Having worked in the fashion industry for over 15 years, I’m used to seeing trends stand the test of time… or quickly evaporate. Right now, the real estate market is witnessing a new trend: a significant uptick as millennials & others are vacating the cities and getting acquainted (or reacquainted) with life in the suburbs.
If Covid-19 has taught us anything, it’s that nobody likes to be confined within four walls with nothing to do. Additionally, large corporations have finally realized that companies can still succeed when employees work remotely. This newfound flexibility is driving urban consumers to capitalize on the value of suburban living: more space (inside & out), affordability, access to public transportation if needed & more.
According to CNBC, more than half of the nation’s 100 largest metropolitan areas are seeing their inhabitants express an increased interest in the suburbs. Between the demand to escape the city combined with the size of the home-buying millennial population, you can see why the numbers are significant.
Bottom line — if you are currently living in the ‘burbs, you might find even more demand for homes like yours. If you or someone you know is considering selling, now might be the best time to maximize a strong return on your investment. Take advantage of the low supply & high demand — that’s always a winning formula for success in the complex real estate market.
Contact the CK team to take advantage of potential opportunities. As always, the CK brand is Ready To Move You.