Is the Great Suburban Land Rush a Myth?

August 11, 2020

As companies continue to offer flexible work-from-home policies for their employees, city dwellers in some areas have been shifting their focus to nearby suburbs, even as the “flight to the suburbs” has been called a pandemic myth by some.

Fifty-one percent of home searches by urban residents in the 100 largest metro areas during the second quarter were for suburban properties near their areas, according to the “Cross Market Demand Report” recently released by realtor.com®. That marks an all-time high since realtor.com® started tracking such data in 2017.

The trend is most prominent in the Northeast, particularly in the New York area, according to realtor.com®. In July, 58.1% of listing views from urban New Yorkers were for suburban New York metro homes.

“With remote work more common and accepted, it seems that people are looking to locate further from the office, either to enjoy more space at a better price, or get closer to nature in the mountains or at the beach,” says Danielle Hale, realtor.com®’s chief economist. “At this point, they are not venturing too far away.”

Hale says it’s likely that the share of suburban home shopping activity will elevate even more into August.

popularity of suburbs chart. Visit source link at the end of this article for more information.

© realtor.com

 

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