{"id":17896,"date":"2020-10-07T11:42:54","date_gmt":"2020-10-07T11:42:54","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=17896"},"modified":"2020-10-07T11:42:54","modified_gmt":"2020-10-07T11:42:54","slug":"dont-count-out-a-big-city-comeback-americans-say","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/dont-count-out-a-big-city-comeback-americans-say\/","title":{"rendered":"Don\u2019t Count Out a Big-City Comeback, Americans Say"},"content":{"rendered":"

Don\u2019t Count Out a Big-City Comeback, Americans Say<\/h1>\n

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Seventy percent of Americans say they are optimistic that major cities will bounce back post-COVID-19, according to findings from a new survey of 1,000 adults nationwide from AceableAgent.com<\/a>, an online real estate education program.<\/p>\n

\u201cToday, the new work-from-home culture is shifting real estate markets, with states like Florida and Texas experiencing an influx in residents,\u201d says Laura Adams, analyst at AceableAgent.com<\/a>. \u201cWhile we are optimistic that New York City and other major metropolitan areas will ultimately recover, there will undoubtedly be pandemic aftereffects impacting both cities and suburbs for years to come.\u201d<\/p>\n

New York was hit hard by the pandemic, with nearly 20,000 deaths from March to May 2020. New Yorkers are reportedly leaving the city for the suburbs and rural communities.<\/p>\n

Nationwide, 37% of Americans said the pandemic has caused them to consider moving. Seventy-seven percent of respondents said that for 2021, they prefer to live in a suburb over a city. But that doesn\u2019t mean they\u2019ll always shun the city. Respondents said they\u2019re putting less emphasis on \u201cproximity to work\u201d and are instead desiring \u201cmore living space,\u201d which tends to be more plentiful in the suburbs. Many survey respondents said they’re looking for more square footage, larger outdoor areas, lower population density, and increased affordability, according to the AceableAgent.com study.<\/p>\n

But once the pandemic has subsided, housing analysts believe people will want to live in city centers again for the proximity to fine dining, luxury shopping, and nightlife just blocks away. \u201cReal estate experts are optimistic that the economic fallout of the pandemic will not have a severe negative impact on the housing market,\u201d the report notes.<\/p>\n

Barclays Capital recently called the death of the city \u201ca myth.\u201d \u201cDespite widely reported speculation about a collapse in demand for urban living\u2014likely spurred by the outsize\u00a0attention given to New York City and San Francisco\u2014our data suggests that people left urban areas, but at a more modest pace than media reports might suggest,\u201d Ryan Preclaw, a lead author in equity research at Barclays in New York, wrote in a recent report released Sept. 29.<\/p>\n

Cities may be underperforming in their housing markets compared to the suburbs in recent months\u2014which is in contrast to recent years, when\u00a0urban areas outpaced suburbs in home price gains. But Preclaw notes that real estate prices are likely to rise across the board. However, \u201curban areas are at risk of losing their long stretch of outperformance,\u201d he says.<\/p>\n

Some residents who left big cities in the pandemic may not come back, but Preclaw predicts most will. Nevertheless, Barclays estimates that any fleeing of urban areas could bump up housing demand: Up to 500,000 new housing units could be needed even if just up to 2% people permanently relocate from urban areas, the report says.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Source:<\/div>\n
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\u201c2020 COVID-19 and Residential Real Estate Impact Report<\/a>,\u201d Aceableagent.com (2020) and \u201c2020 Has Been a Terrible Year for Big City Life. Will Urban Real Estate Recover?<\/a>\u201d Forbes.com (Sept. 30, 2020)<\/div>\n
\u00a9National Association of REALTORS\u00ae
\nReprinted with permission<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Don\u2019t Count Out a Big-City Comeback, Americans Say   Seventy percent of Americans say they are optimistic that major cities will bounce back post-COVID-19, according to findings from a new survey of 1,000 adults nationwide from AceableAgent.com, an online real estate education program. \u201cToday, the new work-from-home culture is shifting real estate markets, with states … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-17896","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nDon\u2019t Count Out a Big-City Comeback, Americans Say - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/dont-count-out-a-big-city-comeback-americans-say\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/dont-count-out-a-big-city-comeback-americans-say\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/dont-count-out-a-big-city-comeback-americans-say\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Don\u2019t Count Out a Big-City Comeback, Americans Say\",\"datePublished\":\"2020-10-07T11:42:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/dont-count-out-a-big-city-comeback-americans-say\\\/\"},\"wordCount\":515,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/dont-count-out-a-big-city-comeback-americans-say\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/dont-count-out-a-big-city-comeback-americans-say\\\/\",\"name\":\"Don\u2019t Count Out a Big-City Comeback, Americans Say - 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