Coronavirus update: People flee cities to live in suburbs
"If millennials once piled into the cities, fueling downtown renewal and growth, apparently they are now piling out. The stay-at-home orders brought on by coronavirus have more potential homebuyers looking for properties in the suburbs. Millennials are now the largest cohort of buyers. As the real estate market began to recover in May, home searches in suburban zip codes jumped 13%, according to realtor.com, one of the largest real estate listing websites. That doubled the pace of growth in urban areas...“This migration to the suburbs is not a new trend, but it has become more pronounced this spring,” said Javier Vivas, realtor.com director of economic research. “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.”"
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Several recent articles have said this is a trend. Time will tell, and so will progress toward a vaccine and treatments for COVID. But will there be lingering fears of dense urban life?
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