One study after another has suggested that the Millennials show a marked preference for city living over the suburban alternative but the latest numbers are showing a decline in the number of Millennials buying in cities.
According to a new survey from the National Association of REALTORS® (NAR), the share of Millennials buying in urban areas has declined from 21 percent a year ago to 17 percent now.
The reason? Prices are high and they can't afford as much space as they want in cities.
"Even if an urban setting is where they'd like to buy their first home, the need for more space at an affordable price is for the most part pushing their search further out," Lawrence Yun, the chief economist for NAR told the Chicago Tribune.