While walkable urban living has traditionally been quite popular across the country, the recent health crisis has led many urbanites to rethink the close proximity and small spaces of city living. Does this indicate a shift to the suburbs might be the wave of the future?
Urban Living Could Shift to the Suburbs
City-dwellers often choose to trade the space and privacy of suburbia for the convenience of city living. But after spending a few months at home, many of these urbanites have started to miss those things they traded away—like having some extra space in the house or a yard around it.
Social distancing and spending time at home are much more difficult in an apartment, condo, or townhouse than in a suburban home. And the real estate market is already starting to reflect this. Here’s how.
Buyer demand for larger homes has increased
Economists have already started to notice a shift in buyer demand; more and more consumers have started to look for homes with more space, larger yards, privacy from neighbors, and access to parks and other outdoor areas.
Many urban residents are considering relocation
The COVID-19 pandemic has caused many residents of more densely populated areas to consider relocation to more suburban areas. In fact, a recent study by Harris Poll showed that as many as 39% of their respondents in urban areas were thinking of making a move.
Remote work allows buyers more flexibility
The health crisis definitely changed the way we work and do business, with many workplaces adapting to allow for more remote work. For many, these means vastly broadened living options—if you don’t have to worry about a commute, you can live anywhere!
Raleigh Has a Lot of Fantastic Suburbs
This shift to suburban living is especially interesting for those of us in the Raleigh area because we have a lot of suburbs. Despite the fact that Raleigh is North Carolina’s capital and one of its largest cities, it hardly feels urban.
With this increased nationwide interest in suburban living, Raleigh, already ranked among America’s top places to live, could become even more of an in-demand market.
Intrigued by the Triangle Lifestyle?
Have you been thinking of making a move to the Triangle? Now is a good time to buy a home—interest rates are low, competition is stable, and the market itself has been surprisingly active, despite closures and restrictions. Eager to learn more? Contact Linda Craft & Team at 919-235-0007 and let us put our 350+ years of combined experience to work for you.