When COVID-19 hit, the way people work and live immediately changed. Stay-at-home orders kept people at home more than ever before. Workers who previously had to report to an office were given the green light to work from home indefinitely. And as a result of these changes, many large cities saw huge portions of their populations say goodbye to city life (where even small apartments can be costly), in favor of more affordable, spacious dwellings in suburban or rural areas.
But it looks like the ‘burbs weren’t the right fit for everyone—and there are signs that the exodus is reversing.
According to data outlined in a recent article from REALTOR® Magazine, people are starting to move back to cities across the country. For example, sales of single-family homes and condos in Boston hit their highest level on record in October—while home sales in Chicago were up 39 percent year-over-year the same month. And with vaccine distribution underway—which will (hopefully) make city living safer—the increased popularity in city living is only going to increase into 2021.
The Takeaway: So, what does that mean for you? People may have left city-living behind in response to COVID, but that’s starting to change—so if buying a home in a city feels like the right fit for you, now is a great time to make a move.