The 1950s migration of the American workforce from cities to suburbs is reversing, Devon Thorsby for U.S. News reports, with urban home prices surpassing suburban homes by more than two percent on average. That's over twice the difference from three years ago, according to a January 2016 report by real estate information company Zillow. Across the country, firms are acting accordingly as they recognize the wants and needs of new city dwellers.
“Commercial real estate agents and property owners have to carefully consider the profile of neighborhood residents as they search for new retail tenants. The store below a person’s apartment or down the block matters not just for convenience, but also for an image the tenant may want to present about their home and themselves as well,” Thorsby says, speaking to a managing principal at the Washington, D.C.–based real estate brokerage firm Streetsense.
Read the fully story at U.S. News & Report.