Walkability seems to be the current trend with buyers in the real estate market. For years, young people were moving out to the suburbs and looking for space but that trend seems to be changing. According to the Star and Tribune younger people want to be in the city within a few walking blocks of their favorite coffee shop, local market, parks and trails. Many of them work in the city and they want to be closer to their work as well. Many websites are also offering walk scores which rate the proximity of a home to shopping, restaurants, etc. This trend is especially true for first time home buyers but now we are also seeing that when they are ready to move up to a bigger home they are ready to spend more to stay in the city. In the housing crisis prices on homes fell everywhere, but they fell more in suburban areas than say the Warehouse District in Minneapolis. People are looking for that sense of community and convenience and they do not want the drive time. Buyers know they can get a lot more land and home in the suburbs but they are willing to stay smaller and pay a bit more to stay in the city.
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