A new study from Realtor.com found that Americans are showing a more pronounced interest suburban and rural areas as the housing market recovers from pandemic-induced shutdowns. Views of online home listings in May 2020 on Realtor.com grew by 13% compared to May 2019 for suburban ZIP codes, roughly double the rate of urban areas, researchers found.
In addition, time on the market increased 25% in rural areas and 30% in the suburbs, while it was up 35% in urban areas in May, a sign that less densely populated parts of the country are attracting greater demand.
The migration to the suburbs is not a new trend, but it has become more pronounced this spring likely due to homebuyers’ desire to have more space and the potential for more people to work remotely.
While cities like New York and Seattle were the biggest hot spots for the pandemic in the U.S., these were not the metropolitan areas that appeared most primed for a migration to the suburbs. Listing views of suburban homes increased the most compared with a year ago among home shoppers in McAllen, Texas, followed by Oklahoma City and Augusta, Ga.
Looking to move to the suburbs? Get pre approved first! Complete the form below for a no cost, no obligation consultation.