Millennials buying homes in the suburbs: Breaking news?

I answer the question in my headline below, in this brief comment from RetailWire. The bigger question is the long-term impact on consumer preferences as this trend unfolds:

Is it surprising the Millennials make up the largest segment of suburban home buyers? Not really, considering that they are outgrowing Baby Boomers in terms of sheer numbers at the same time that they are house-hunting for the first time. So I’m not sure how many conclusions you can draw from this bit of data.

As long as most American cities offer better school systems in their suburbs — along with more affordable housing and more space — it’s not unexpected that Millennials would be drawn to suburban living. (And it’s no coincidence that Boomers continue to downsize.) This will continue to drive the long-term strength of home-related businesses (furniture, DIY, home decor) beyond the short-term cyclical ups and downs of the housing market.

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