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Economics

New England’s Suburbs Face Decline In Population, Home Prices

Residents in small Northeastern towns are heading to larger cities and warmer pastures.

August 22, 2016

Picturesque homes in small town neighborhoods throughout New England are no longer in demand.

The Atlantic reports that more than 50 towns and suburbs around Boston started the year with price declines. In Connecticut, the median house price is down 18 percent compared to the 2004 peak. Houses, even tidy Colonials, are lingering on the market.

Connecticut in particular has been hit hard by fleeing residents. Younger adults are opting for city living, and others are choosing to pack up and move to Florida. The state's median age has risen to over 40.

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