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A suburban comeback?

Posted by Scott Van Voorhis April 11, 2014 09:02 AM

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Many people were writing off the suburbs after the real estate bubble imploded.

Outer suburbs - think 495 and beyond - were seen as having a particularly grim, foreclosure-ridden future, with predictions of squalor for the so-called "fringe suburbs."

Of course, a lot of that doomsday talk looks like claptrap now -  Boston's inner suburbs are seeing home prices go to crazy levels while sales and prices are also rebounding out in 495 as well.

Now it looks like home buyers and families are increasingly setting up shop in the suburbs as well, a new survey by Trulia finds.

Population was up 1.1 percent in the nation's suburbs this March compared to March 2013, compared to a .09 percent increase in the cities, Trulia reports.

Price increases were about the same - 9.8 percent, year-over-year for urban areas, compared to 9.4 percent for the 'burbs.

The one exception are dense, high-rise city neighborhoods, like Downtown Boston, which are relatively small in both population and landmass compared to the rest of the metro market, Trulia finds.

These boutique high rise districts saw population jump by 1.8 percent and prices by more than 11 percent.

Writes Jed Kolko, Trulia's chief economist:

Population is growing faster in the suburbs than urban neighborhoods overall, despite the fast growth in high-rise neighborhoods...The suburbs are far from over.

This blog is not written or edited by or the Boston Globe.
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About boston real estate now
Scott Van Voorhis is a freelance writer who specializes in real estate and business issues.

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