A study based on realtor.com visitors finds that rural and suburban areas’ popularity is up 16% and 13%, respectively – and about double the rate of urban-area searches.
CHICAGO – A study from Realtor.com based on its visitors’ searches finds that Americans are increasingly interested in suburban and rural homes as the housing market recovers from COVID-19 shutdowns.
In addition, the time that homes in suburban and rural areas spend on the market did not increase as substantially as homes in urban areas, indicating that demand is growing for properties in less densely populated parts of the country.
“This migration to the suburbs is not a new trend, but it has become more pronounced this spring,” says Javier Vivas, director of economic research at realtor.com. “After several months of shelter-in-place orders, the desire to have more space and the potential for more people to work remotely are likely two of the factors contributing to the popularity of the burbs.”
Source: Americans Are Eyeing Homes in the Suburbs as Pent-Up Demand Hits Housing Market, MarketWatch (06/17/20)
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