NOVA Homes Blog: More Homebuyers Looking to Move to NoVA Suburbs

Tuesday, May 27, 2014

More Homebuyers Looking to Move to NoVA Suburbs

Over the past few years, homebuyers have had their sights set on DC, urban living and growth fueled by a desire to live in the city. But it seems the tables are turning this year as more NoVA homebuyers are looking to the suburbs to purchase a home.

Homebuyers nationwide have gradually begun their move to the suburbs— with some populations, even in fast-growing cities, declining as buyers and current homeowners leave. It's a return to the suburbs and beyond this summer as these areas and those just past known as "exurbs" are seeing an increase in growth after their expansion was anything but vast during the recession.

"City growth may be bottoming out, as well as the downsizing of the outer suburbs," said a demographer at the Brookings Institution.

This new analysis of where Northern Virginia homebuyers may be headed comes not too long after a community preference survey that showed more buyers interested in walkable neighborhoods. Could this be one of the reasons more buyers are interested in moving to areas like Alexandria, Arlington, Falls Church, or McLean?

Homebuyers are reporting a need for more space, the likes of which they may not find in the city. And while living in the suburbs may not allow for a shorter commute time, homebuyers are weighing the benefits of home prices in the suburbs, in addition to great neighborhoods and additional space, versus those in the city.

Northern Virginia real estate in the suburbs, and outlying exurbs, is starting to seem more appealing to local homebuyers and the growth spotted in these areas can back that up. "suburbs and exurbs grew at a 1.04% annual rate in 2012-13, up from 0.99% in 2011-2012," found another analysis by the demographer. Meanwhile, urban areas saw their growth actually fall from 0.91% to 0.81%.

With nearly 3 decades of local service, real estate knowledge and expertise, I am here to help! We can find a home that fits your wants and needs in the Northern Virginia area this summer— just give me a call!

I happily serve the areas of Alexandria, Annandale, Arlington, Burke, Centreville, Chantilly, Clifton, Fairfax City, Falls Church, Great Falls, Herndon, Lake Ridge, McLean, Mount Vernon, Reston, Rosslyn, Springfield, Tyson’s Corner and Vienna.

Earle Whitmore

Long & Foster Real Estate, Inc.
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