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    Two New Surveys Indicate Urban to Suburban Lean

    Two New Surveys Indicate Urban to Suburban Lean | Austin Properties Group

    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

    Two New Surveys Indicate Urban to Suburban Lean | Austin Properties Group

    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:

    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: Buying a Home, Economy, Housing Market, Real Estate, Selling a Home

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    About Austin Properties Group

    Every single member of our staff lives and breathes Austin, Texas. Truly, we wouldn’t want to be doing this anywhere else. We love our city, and we want you to fall in love with it too. We work with the Texas spirit of hospitality in mind. We are not happy until you are happy. Whatever your request, big or small, we will work with you until you are completely satisfied. Why will every member of Austin Properties Group make every effort humanly possible to ensure your real estate goals are achieved? Because we really care. We care about this city and we care about you. We want you to feel at home in Austin as soon as possible. We are a unique firm and we are proud to be a part of keeping Austin weird.

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    Austin Properties Group
    (512) 222-3015

    1801 S. Mopac, Ste 100
    Austin, Texas 78746

    info@austinpg.com
    (512) 222-3015
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