New analysis from Zillow Research found that for each 10 percentage-point increase in home values, an additional 1.5 percentage-point drop in birth rates is expected for women 25 to 29 years old.
Rising home values is just one factor that could be affecting the total fertility rate in the U.S., which has been steadily declining since 2008 despite having been predicted to rise as the economy recovered. But Zillow found that cities with the highest price growth typically saw the largest drops in fertility.
A recent survey found that 82 percent of respondents would delay childbirth until they were financially stable. The rise in home prices could be making financial stability harder to attain, delaying childbirth for young families.