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The Trend Is From Cities to the Suburbs

(Published on - 6/15/2020 1:21:09 PM)

The coronavirus pandemic has changed everything. From the way that Americans work to the way they shop, times are changing, and some people think that many of these lifestyle shifts will remain even when COVID-19 is long gone. Real estate pros, for instance, have already noticed one major trend—Americans are reconsidering where they live. So far, there’s been a major push out of more densely populated areas as individuals and families alike consider the suburbs, instead.


Why the Drastic Changes?

This all began when large numbers of people began to abandon their living spaces in crowded urban areas, where COVID-19 was more prone to spread from person to person. Instead, these folks found refuge with friends and family members in the suburbs. Many have chosen to purchase homes further away from the chaos in an attempt to prevent themselves from falling ill.

There’s the CDC’s recommendation for social distancing to thank—in the suburbs, small, enclosed areas like shared public transportation, bodegas, elevators and laundromats are much less common. Social distancing becomes easier even when simply walking on the sidewalk or browsing for essentials in corner stores.

Many families are finding solace in homes with far more square footage than their city apartments. And with more space, the current trend of working from home can be productive and enjoyable. People who never thought they would leave the cities are discovering new priorities and are enjoying their new lifestyle. The trend is moving from high priced apartments homes with extra space that can be used for such things as yoga or peloton rooms. They’ve recognized that they enjoy having yards full of grass, opportunities to garden that aren’t limited to a windowsill, and the convenience of having larger stores for groceries and other necessities.

Unfortunately, the high demand for suburban escape is already leading to a limited housing inventory that’s been further driven by unprecedented, historically low mortgage rates. Suburban area Realtors are reporting record low inventories causing numerous multiple bid situations on homes listed for sale.

With markets moving, economic uncertainty looming (including an all-time low rate of wage growth in April), and demand increasing for suburban space, making the move from the city could continue to become more challenging.

Marketing Suburbia

To accommodate the movement from urban to suburban, Real estate experts have made their own adjustments to the way that they’re helping interested parties find and view homes.

Digital platforms that encourage virtual home tours and open houses as well as virtual buying and selling programs are likely to remain popular as the United States continues to navigate the pandemic and prevent the high possibility of a second peak that will come with the reopening of public spaces. So far, it seems a good compromise, but only time will tell how the real estate market trends will continue to change along with the pandemic.

For assistance in navigating your move from the city to the suburbs, contact the experts at Realty Executives Exceptional Realtors® at (866) 742-5732 or email them at ClientCare@RealtyExecutives.com. If you are ready to find your suburban dream home, they would love to assist you.

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