A new study by the National Association of Realtors reveals trends in the real estate market—including a finding on the critical issue of Millennial preferences in housing.
Joseph Lu provides an abridged version of a study due to be released at the end of the month by the National Association of Realtors (NAR).
This year's edition of NAR's "Profile of Home Buyers and Sellers" is the 35th version of the study, so Lu's coverage focuses on the trends apparent from 35 years of analysis. Lu breaks down those trends in five ways, including the following:
- Less first-time buyer participation
- Looking for a bigger space
- Buyers are taking longer to search due to less inventory
One of the more compelling claims made by the report reveals a trend among Millennials that is sure to be closely watched as the nation's largest generation ages and settles down: "While it is true that Millennials have chosen to sacrifice space for proximity to jobs and entertainment (mainly by renting in urban areas), they have also followed the foot steps of previous generation. Millennials, NAR found, move out to the suburbs for larger and more affordable homes once they are ready to buy."
FULL STORY: 5 ways housing has transformed over the last 35 years
Pennsylvania Mall Conversion Bill Passes House
If passed, the bill would promote the adaptive reuse of defunct commercial buildings.
World's Largest Wildlife Overpass In the Works in Los Angeles County
Caltrans will soon close half of the 101 Freeway in order to continue construction of the Wallis Annenberg Wildlife Crossing near Agoura Hills in Los Angeles County.
U.S. Supreme Court: California's Impact Fees May Violate Takings Clause
A California property owner took El Dorado County to state court after paying a traffic impact fee he felt was exorbitant. He lost in trial court, appellate court, and the California Supreme Court denied review. Then the U.S. Supreme Court acted.
Indy Bikeshare System Turns 10, Expands to E-Bikes
Pacers Bikeshare riders logged over 700,000 rides since the system launched in 2014.
Coming Soon to Ohio: The Largest Agrivoltaic Farm in the US
The ambitious 6,000-acre project will combine an 800-watt solar farm with crop and livestock production.
New York’s Deadliest Neighborhoods for Pedestrians
Pedestrian deaths rose last year, but remain below pre-2020 levels.
City of Costa Mesa
Licking County
Barrett Planning Group LLC
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
Tufts University, Department of Urban and Environmental Policy & Planning
City of Universal City TX
ULI Northwest Arkansas
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.