For the first time in half a decade, the suburbs of five major metropolitan areas—Boston, New York, Chicago, Detroit, and St. Louis—are on the annual Hottest ZIP Codes Report from Realtor. Marking a renewed interest in homes near cities, Americans looking to buy in 2023 are shifting to areas that are more affordable relative to the rest of the country and less expensive than the nearby metros.
"As many companies continue to call employees back to the office, we're seeing a surge in home shoppers who are seeking a desirable combination of cost and convenience within commuting distance of major metropolitan areas," says Danielle Hale, chief economist for Realtor.com. "In addition to affordable markets, this year's list also features some higher priced areas close to large urban cores, which will likely appeal to buyers who are concerned with finding the right mix of size and amenities within reach of a nearby city center."Read More