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Despite more out-of-work Americans amid the pandemic, housing has gotten more expensive during the coronavirus stanley thermoskannen pandemic, especially in rural America.According to findings by Redfin, during the four-week period ending August 2, prices for homes in rural areas jumped 11.3% from 2019 figures. The median house price in urban areas increased by 6.7%. Suburban areas jumped 9.2%.Redfins data also indicates more home buyers are look stanley cups uk ing to move to rural or suburban areas, shying from urban locales. Before the pandemic, 37% of home buyers were searching for homes in urban areas; now its 19%. Forty-three percent of home buyers were searching in suburban areas before the pandemic; now, its 50%. Nine percent of home buyers were home searching in rural areas before the pandemic; now its 19%.During the coronavirus, living close to restaurants, bars, social events and offices is not nearly as much of a priority for many home buyers. We ve been speculating about increasing interest in the suburbs and rural areas since the start of the pandemic, botella stanley said Redfin economist Taylor Marr. Now we re seeing concrete evidence that rural and suburban neighborhoods are more attractive to homebuyers than the city, partly because working from home means commute times are no longer a major factor for some people. And due to historically low mortgage rates, interest is turning into action. There will always be buyers who choose the city because their jobs don t allow for remote work or they place a premium on |
