More Buyers Eyeing Property In The Suburbs

Dated: July 15 2020

Views: 71

While the country is reopening and restrictions are being lifted, the quarantine experience is still fresh in many potential buyer’s minds—and many of those buyers are favoring spacious suburban homes over more dense city spaces.

According to data outlined in a recent realtor.com article, interest in suburban properties is significantly outpacing interest in city dwellings. Online viewings of listings in suburban zip codes on realtor.com grew 13 percent in May—almost twice the 7 percent pace of growth in urban areas.

“This migration to the suburbs is not a new trend, but it has become more pronounced this spring,” Javier Vivas, realtor.com’s director of economic research, said in the article. “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.”

The Takeaway:

So, what does this mean for you? If you’ve been thinking about a move to the suburbs, you’re not alone—and if you’ve been thinking about selling your suburban home, it looks like you’re going to have plenty of buyer interest.

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