“With the re-opening of the economy scheduled to be cautious, the impact on consumer preferences will likely shift buying behavior…consumers are already looking for larger homes, bigger yards, access to the outdoors and more separation from neighbors.”
While many people across the U.S. have traditionally enjoyed the perks of an urban lifestyle, some who live in more populated city limits today are beginning to rethink their current neighborhoods. Being in close proximity to everything from the grocery store to local entertainment is definitely a perk, especially if you can also walk to some of these hot spots and have a short commute to work. The trade-off, however, is that highly populated cities can lack access to open space, a yard, and other desirable features. These are the kinds of things you may miss when spending a lot of time at home. When it comes to social distancing, as we’ve experienced recently, the newest trend seems to be around re-evaluating a once-desired city lifestyle and trading it for suburban or rural living.
George Ratiu, Senior Economist at realtor.com notes:
“With the re-opening of the economy scheduled to be cautious, the impact on consumer preferences will likely shift buying behavior…consumers are already looking for larger homes, bigger yards, access to the outdoors and more separation from neighbors. As we move into the recovery stage, these preferences will play an important role in the type of homes consumers will want to buy. They will also play a role in the coming discussions on zoning and urban planning. While higher density has been a hallmark of urban development over the past decade, the pandemic may lead to a re-thinking of space allocation.”
The Harris Poll recently surveyed 2,000 Americans, and 39% of the respondents who live in urban areas indicated the COVID-19 crisis has caused them to consider moving to a less populated area.Today, moving outside the city limits is also more feasible than ever, especially as Americans have quickly become more accustomed to – and more accepting of – remote work. According to the Pew Research Center, access to the Internet has increased significantly in rural and suburban areas, making working from home more accessible. The number of people working from home has also spiked considerably, even before the pandemic came into play this year.
Bottom Line
If you have a home in the suburbs or a rural area, you may see an increasing number of buyers looking for a property like yours. If you’re thinking of buying and don’t mind a commute to work for the well-being of your family, you may want to consider looking at homes for sale outside the city. Let’s connect today to discuss the options available in our area.
To view original article, visit Keeping Current Matters.
Buyer Bright Spot: There Are More Homes on the Market
The number of homes for sale has grown a whole lot lately and that’s true for both existing and newly built homes.
How Home Equity Can Help Fuel Your Retirement
Your agent will help you understand how much equity to have and how you can use it and help you navigate the entire process.
The Real Benefits of Buying a Home This Year
Let’s break down why homeownership is worth considering in 2025 and beyond, and how it can help set you up for the future.
3 Reasons To Buy a Home Before Spring
What if buying now — before the spring rush — might actually give you the upper hand? You’ll have less competition, more negotiating power and be able to lock in today’s prices before they rise.
The Secret To Selling? Using an Agent To Get Your House Noticed
The way your agent markets your house can be the difference between whether or not it stands out and gets attention from buyers.
If Your House’s Price Is Not Compelling, It’s Not Selling
Work with a local real estate agent who’s going to be honest with you about how you should price your house.