The Philadelphia suburbs aren’t what they used to be — at least when it comes to home-sale prices.
For the fifth year in a row, the suburban counties saw a near-negligible increase in median home-sale price, ticking up just 0.9 percent overall in 2016 to end the fourth quarter at $231,000. (Median is the middle number; half the houses sold for more, half for less.)
When compared to the city, where the median home-sale price jumped 8.6 percent year-over-year to $140,000, it’s clear the suburbs are not experiencing the same residential renaissance.
“In the 1980s, no one wanted to live in Philadelphia,” said Forrest Huffman, a professor of finance and real estate at Temple University. Instead, he noted, people swarmed the suburbs, seeking land and good schools and jobs.
Today, Huffman said, baby boomers and millennials “have a much better take on Center City and the urban environment … better access, public transit,