The shift from urban centers to less dense areas continued on through October, according to the National Association of Realtors (NAR). For those who closed a sale for an existing home in October, 85% were properties in either the suburbs, a small town, rural area, or resort area. The remaining 15% were for properties in a central city/urban area. This is a 5% uptick from the benchmark average of 80%. The share of existing homes sold in suburbs or small towns were 80% in February of this year as well.
Thirty-one percent of respondents also reported that compared to January 2020, they have more clients who live in the city who want to purchase a property in the suburb.
Apple® Maps Daily Mobility Trends Report Show More Mobility and Traveling in Smaller Cities and Counties
There are several indicators that point to the rise of the suburbs and small towns, for now. A daily indicator that points to the greater economic activity arising from greater mobility is the Apple® Maps Mobility Trends index. The index is based on request for route changes relative to January 13 (base= 100).