Living in densely populated cities may be losing its appeal as the Covid-19 crisis continues throughout America.
Suburban areas have certainly not been left unscathed by coronavirus. But with no treatment or cure currently available – and statistics showing numbers still rising in many areas - home shoppers are keenly aware there may be more lockdowns.
Single-family living in the suburbs ensures better social distancing, as well as the comfort of knowing that what you touch in your home won’t be contaminated by the outside world. The desire for autonomy and privacy - controlling who comes and goes - is stronger, as is the need for personal outdoor space.
The pandemic also showed many office workers they can transition to working from home, rather than taking long commutes to employment centers.
It’s already happening in New York City, generally regarded as the country’s pandemic epicenter. According to the New York Times, between March 15 and April 28, moves from the Big Apple to the Connecticut suburbs jumped 74% compared to the same time the previous year.
The single-family housing industry will be a major beneficiary. Polling shows fully one-third of Americans are considering moving to less populous areas.
In the wake of the pandemic, urban-dwelling millennials are expected to start looking for more square footage in the suburbs, too. Many of these younger folks may be hampered by tighter credit standards and may have to settle for single-family rentals – an intriguing investment opportunity for other homebuyers.
Whether the pandemic comes back stronger, people want to feel as though they are prepared, and their home can be their sanctuary.