Real Estate

People flee cities to live in suburbs

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ullstein bild | Getty Images

If millennials once piled into the cities, fueling downtown renewal and growth, apparently they are now piling out.

The stay-at-home orders brought on by coronavirus have more potential homebuyers looking for properties in the suburbs. Millennials are now the largest cohort of buyers. 

As the real estate market began to recover in May, home searches in suburban zip codes jumped 13%, according to realtor.com, one of the largest real estate listing websites. That doubled the pace of growth in urban areas.

While homes are spending more time on the market overall, due to complications surrounding closings, both suburban and rural markets are not experiencing that…



Source cnbc.com

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