As a result of the covid 19 pandemic, many Urbanites want to exit highly populated cities and move to the suburbs in search of more space.
A recent Harris Poll suggest that nearly 43% of Urbanites are actively searching for homes to buy and nearly one third of Americans are considering a less densely populated areas due to the coronavirus.
My own recent experience in the previous 30 days supports this theory. There have been quite a number of calls from city dwellers all over Nashville and other large cities from all over America, looking to make a move to the suburbs and even further out. I have potential buyers from Los Angeles, San Francisco, and Miami looking to relocate to states like Tennessee in order to escape their densely populated and highly restricted and taxed urban areas.
Many of these buyers are looking for homes that are in remote areas with land to either build their primary home or simply have a second home. Most of them are looking for larger, sprawling properties. As one real estate pro put it, “…suddenly it’s hip to be private, spacious, and quiet…”
Could this is be a permanent trend or just temporary, like it was after the 9/11 attacks? There was a momentary shift in the market during that time but they quickly returned, driven by overseas buyers and young professionals.