Millennials are fleeing the city for the suburbs. In recent months, young people living in major cities like NYC have been fleeing their cramped apartments and small spaces for homes in nearby suburbs. According to Miller Samuel Real Estate Appraisers & Consultants, there has been a 112% increase of property sales in Westchester County, which is just north of the city, and a 73% increase in Fairfield County just over the state border in Connecticut. A real estate agent in New Jersey reports that 60% of potential buyers have been from the city. During this time, properties sold in Manhattan plummeted 56%. YPulse’s No Place Like Home trend report found that 33% of Millennials in cities are considering or planning a move to a suburban or rural area. (NYTimes)
