City to Suburb – The Newest Home Buying Trend?
Right after WWII, the suburbs sprung to life as thousands of GI’s moved their families out of the cities where they had grown up. This hybrid lifestyle offered the convenience of city living paired with fresh air, trees, and open space. Suburban growth has been steady for decades, but today it may be poised for its biggest boom yet.
The arrival of COVID-19 dramatically changed life for city dwellers. With crowded public spaces, limited social distancing, and many amenities closed or restricted, the advantages of urban living have faded. Dining, entertainment, cultural attractions, and convenient transportation—all staples of city life—became inaccessible almost overnight.
Why More Buyers Are Choosing the Suburbs
Suburbs offer larger homes, bigger yards, highly rated schools, and more room to breathe. Remote work flexibility has also made commuting less of a barrier. Buyers are discovering they can enjoy a brand-new home with more space for a lower monthly payment than renting a small apartment in a major metro area.
A recent Harris Poll found that nearly one-third of Americans are now considering a move to less densely populated areas. Data from the American Enterprise Institute shows a 36% increase in home purchase mortgage rate locks for non-urban properties from May 18 to June 15 compared to the previous year. Meanwhile, condo purchases in high-density areas have sharply decreased.
What Real Estate Experts Are Seeing
According to Lawrence Yun, Chief Economist at the National Association of Realtors, “Relatively better performance of single-family homes in relation to multifamily condominium properties clearly suggest migration from the city centers to the suburbs.”
Many realtors report heightened suburban demand, with buyers seeking more space, privacy, yards, and flexibility. However, the increased interest is colliding with historically low inventory. Before the pandemic, demand already exceeded supply—and now competition is even more intense.
With sellers holding off and fewer homes available, prices rise quickly. Waiting to move may make it harder to find the right home at the right price. Glenn Kelman, CEO of Redfin, explains: “We’re set up this summer for the mother of all bidding-war seasons. There’s nothing to sell, and there are so many people who want to buy.”
How Home Builders Are Meeting the Demand
Unlike the resale market, home builders continue to offer new inventory to meet rising demand. Builders have adapted to COVID-19 by utilizing virtual tours, private appointments, online meetings, and enhanced cleaning protocols.
At Ernest Homes, we never stopped serving buyers throughout the crisis. From virtual tours to safe on-site visits, we’ve made the process flexible, informative, and comfortable for today’s home shoppers.
If you’re ready to explore new construction in Savannah or Coastal Georgia, our Sales Team is here to help. Call 912-660-9673 or send us an online inquiry today!
