Posted in home

Millennial home buyers head to the burbs, face urban-core-like bidding wars

All it took was a global pandemic for millennial home buyers in Boston to start doing the previously unthinkable: ditching the city for suburbia.



a truck is parked in front of a house: moving-truck-boxes-house-adobe-stock


© Adobe Stock
moving-truck-boxes-house-adobe-stock

But city dwellers are bringing some elements of downtown living with them as they begrudgingly move to the burbs.

Loading...

Load Error

The prepandemic housing market in Boston’s urban core was notoriously tight. Bidding wars sent condo prices even farther into the stratosphere, with accepted offers sometimes surpassing $50,000 over asking. But that phenomenon is no longer just a Boston one, as home buyers flee the city for more outdoor space and square footage in a housing market that is still supply constrained like the urban core.

“It was outrageous: people bidding against themselves, and, in all those instances, you had to waive your inspection and mortgage contingencies, appraisal — all of it,” Alice Rouse, 32, a photographer who recently purchased a home

Read More
Continue Reading Millennial home buyers head to the burbs, face urban-core-like bidding wars