DALLAS -- That's a wrap for cocooning.

Hanging out is in.

Hot on the heels of a head-for-the-hills trend among home buyers seeking the security of remote locales, a back-to-the-city movement is growing among young professionals and empty nesters looking for a different kind of action.

Rather than isolation and a sedentary lifestyle, the new breed of urban resident seeks locations that expose them to active, more vibrant lives. Reduced road rage and zero lawn care are also among the draws creating a return to downtown life, according to findings at a recent in-town housing conference here sponsored by the Urban Land Institute.

"We know this is a major direction in housing development in the United States," said Jon Abbett, president of CIG International, LLC, a Washington, D.C.-based company that finances housing development.

"Sales will be faster than you thought," he added.

And with speedy sales comes healthy appreciation.

Condos and townhomes are gaining in value more than twice as fast as single-family detached homes, more common to suburban locales. The National Association of Realtors says nationwide, the median price of single-family resale homes rose 7.4 percent during the past year, ending in the second quarter of 2003. Condos' median price was up 15.1 percent.

Second home buyers are already ahead of the curve.

Based on strong second home purchases in metropolitan areas and the price of second homes purchased, the National Association of Realtors estimates that most second home purchases in the first quarter this year were for investment purchases.

The benchmark "2002 Profile of Second Home Owners", published last November, showed that 78 percent of all second homes were used primarily for recreational use. However, an examination of more recent purchases revealed the percentage purchasing second homes for investment purposes rose from 20 percent in 1999 to 37 percent of second home sales in 2002. Now they may be more than half of all purchases -- if only temporarily.

NAR's "2003 Profile of Home Buyers and Sellers" reveals indications that "a majority of second home purchases in the first quarter were investment properties."

"The concentration of second home purchases in metropolitan areas during the first quarter is the reverse of what we see on an annual basis, where most are purchased in resort, recreation or rural areas," said David Lereah, NAR's chief economist.

Moving down into a downtown home may also be an answer for the 83 percent of Americans aged 45 and older who say they want to retire in place, but who often live in outdated homes ill equipped to serve their needs as they age, according to AARP.

Downtowns typically offer concentrated activities welcomed by older, less mobile people who needn't go far for more.

In San Jose, CA, its Redevelopment Agency's planned "Live Downtown" campaign will in part, target older couples to add to the mix of a downtown that's had growing up pains for the past two decades. San Diego and Oakland, CA, likewise targeted the older set, successfully using vibrant waterfronts as a draw.

ULI says the move-downtown trend isn't as widespread as the past exodus to suburbia. Some downtown populations lost residents after the 911 terrorist attacks. But the U.S. Census says Houston, Seattle, Chicago, Denver, Portland, Atlanta, Memphis and San Diego all experienced greater percentage increases in their downtown populations than in their entire urban areas over the past decade. Cleveland, Baltimore, Philadelphia and Detroit enjoyed downtown population increases while losing population overall.

"The future of cities has changed," said Tom Gilmore, manager of Gilmore Associates, an Los Angeles firm created to revitalize historic buildings in Los Angeles and Hollywood.

"Having people -- a lot of people -- living in a downtown is what keeps it from being a dead zone," he added.

Cities strapped by commercial real estate's downturn have shifted to residential development to trigger a lively 24/7 atmosphere energized by shopping, dining and entertainment.

Developers are converting empty commercial properties -- old warehouses, canneries, and light manufacturing factories -- to lofts, live-work units, apartments, and condominiums to accommodate the new denizens. They are also building new multi-use projects often combining upstairs homes with downstairs retail.

"We are seeing empty nesters who want a simpler lifestyle, as well as the children of empty nesters who don't want to live in the suburban environment their parents lived in," said Fran McCarthy, president, Daedalus Development, a Fort Worth, TX developer.

"The utopia of suburbia is not panning out. As cities grow, more pressure is placed on getting housing closer to jobs," McCarthy said.

Disclosure: The aging author of this story recently converted his downtown San Jose, CA condominium into an investment property and moved into a larger, newly-built loft, also in downtown San Jose.