Home prices are rising faster in major U.S. cities than in their suburbs, especially in neighborhoods that have larger gay and lesbian populations and are more racially diverse, according to a national listing service.
Asking prices, on a per-square-foot basis, for houses in urban neighborhoods have risen by 11.3 percent in the past year, Trulia says. In suburban neighborhoods, the price gain was 10.2 percent.
The company defined urban neighborhoods as those where most of the housing is in the form of apartments, attached townhomes or other multi-unit buildings, and suburban areas as those having mostly single-family detached houses.
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