Homes condos Montgomery Md Rockville Gaithersburg Germantown, Short sale foreclosure expert: Baby Boomers are Moving to Urban Areas

Baby Boomers are Moving to Urban Areas

We are seeing the trend of Urban Living Areas or "Town Centers" here in the suburbs of Montgomery County, MD (Washington DC suburbs).  Below is an example of a new community in Gaithersburg, MD called "Crown".

Downtown Crown

Downsizing Baby Boomers Head to Urban Areas

DAILY REAL ESTATE NEWS | TUESDAY, APRIL 16, 2013

Home prices in urban areas have not fallen by as much the last few years as they have in the suburbs. And prices in urban areas are recovering much faster too, according to John McLain of the Urban Land Institute. Why? Some say it’s because of new moving patterns among the baby-boomer generation. 

An increasing number of baby boomers are reportedly leaving their big homes in the suburbs and heading to urban areas for retirement, drawn by walkability, proximity to public transportation, diversity, and being closer to their children. 

"[Boomers] want to buy something that's secure, and it's been pretty well demonstrated that suburban housing is not as secure an asset as anyone thought it was or that it used to be," McClain said.

Developers are taking note of the trend and beefing up construction in urban centers. Condos and apartments near downtown areas are popping up to accommodate more baby boomers. 

The nation’s largest home builders are still investing in active-adult communities in the suburbs but confidence in the sector has been recovering at a much slower rate than the overall housing market, according to the National Association of Home Builders. 

"The idea of living out in the suburbs, just with older people, has really disappeared," McClain says. 

Source: “Boomers to Blame for Rising Urban Home Prices,” CNBC (April 13, 2013)

Read More

 

Rick Reed, G.R.I., CDPE- Certified Distressed Property Expert 

Assoc. Broker/Owner "The Congressional Team" RE/MAX

Licensed in MD & Wash DC

8937 Shady Grove Court
Gaithersburg, MD 20877
Cell: 301-742-1172
Office: 240-403-0399 X306

http://www.premiermarylandhomes.com/


Can I help a friend or family member with their Real Estate needs?  You can count on me!

Comment balloon 2 commentsRick Reed • April 16 2013 12:03PM

Comments

Rick - It is more convenience for for some people to live near shopping and entertainment areas.Thanks for the information about baby boomers are moving to urban areas.

Posted by John Pusa, Your All Time Realtor With Exceptional Service (Berkshire Hathaway Home Services Crest) over 5 years ago

Hi John,  I agree with your statement, "convenience for for some people to live near shopping and entertainment areas".   Many of my clients like the idea of "urban living".  Thanks for the feedback. 

Posted by Rick Reed, Assoc Broker, GRI, CDPE, REO, Short Sale, Military ("The Congressional Team" RE/MAX Realty Services) over 5 years ago

Participate