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Two New Surveys Indicate Urban to Suburban Lean

Two New Surveys Indicate Urban to Suburban Lean | Simplifying The Market

There has been much talk around the possibility that Americans are feeling less enamored with the benefits of living in a large city and now may be longing for the open spaces that suburban and rural areas provide.

In a recent Realtor Magazine article, they discussed the issue and addressed comments made by Lawrence Yun, Chief Economist for the National Association of Realtors (NAR):

“While migration trends were toward urban centers before the pandemic, real estate thought leaders have predicted a suburban resurgence as home buyers seek more space for social distancing. Now the data is supporting that theory. Coronavirus and work-from-home flexibility is sparking the trend reversal, Yun said. More first-time home buyers and minorities have also been looking to the suburbs for affordability, he added.”

NAR surveyed agents across the country asking them to best describe the locations where their clients are looking for homes (they could check multiple answers). Here are the results of the survey:

  • 47% suburban/subdivision
  • 39% rural area
  • 25% small town
  • 14% urban area/central city
  • 13% resort community/recreational area

According to real estate agents, there’s a strong preference for less populated locations such as suburban and rural areas.

Real Estate Brokers and Owners Agree

Zelman & Associates surveys brokers and owners of real estate firms for their monthly Real Estate Brokers Report. The last report revealed that 68% see either a ‘moderate’ or ‘significant’ shift to more suburban locations. Here are the results of the survey:Two New Surveys Indicate Urban to Suburban Lean | Simplifying The Market

Bottom Line

No one knows if this will be a short-term trend or an industry game-changer. For now, there appears to be a migration to more open environments.

Posted in: For Buyers, For Sellers, Housing Market Updates

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Albuquerque Area Zip Codes We Serve

  • 87001 Algodones
  • 87002 Belen
  • 87004 Bernalillo
  • 87008 Cedar Crest
  • 87015 Edgewood
  • 87016 Estancia
  • 87031 Los Lunas
  • 87035 Moriarty
  • 87042 Peralta
  • 87047 Sandia Park
  • 87048 Corrales
  • 87059 Tijeras
  • 87068 Bosque Farms
  • 87102 Albuquerque
  • 87104 Albuquerque
  • 87105 Albuquerque
  • 87106 Albuquerque
  • 87107 Albuquerque
  • 87108 Albuquerque
  • 87109 Albuquerque
  • 87110 Albuquerque
  • 87111 Albuquerque
  • 87112 Albuquerque
  • 87113 Albuquerque
  • 87114 Albuquerque
  • 87120 Albuquerque
  • 87121 Albuquerque
  • 87122 Albuquerque
  • 87123 Albuquerque
  • 87124 Rio Rancho
  • 87144 Rio Rancho
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    Venturi Realty Group - Keller Williams Realty

    1119 Alameda Blvd NW Albuquerque, NM 87114

    (505) 448 8888
    info@welcomehomeabq.com

    KW Main Office Location

    6703 Academy Blvd NE Albuquerque NM, 87109

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