House Hunters’ Hunger for Small Towns Continues to Soar—Even as Interest in Big Cities Begins to Recover
Americans are shopping for homes in small towns at an exceptionally higher rate than they were last year and even last month
As a data journalist, Lily is passionate about helping readers understand complex facets of the housing market. She is particularly interested in the issues of climate change, race and gender equality and housing affordability. Prior to working at Redfin, Lily spent four years as a reporter at Bloomberg News in New York City.
Email LilyAmericans are shopping for homes in small towns at an exceptionally higher rate than they were last year and even last month
We looked at how coronavirus has changed housing market behavior in places that have flattened the curve, places that haven’t, and those where real estate isn’t considered essential.
As the coronavirus pandemic sends shockwaves through the U.S. economy, banks are fighting financial uncertainty with stricter mortgage lending requirements, making it harder for house hunters to get their hands on home loans.
Home prices are holding up and demand is strengthening, but new listings continue to drop as the coronavirus outbreak takes a toll on the economy.
Requests for agent-led video-chat tours soared 350% last week from the same period a month ago.
As the US housing market grows accustomed to a new reality under the coronavirus quarantine, homes are sitting on the market for longer and growth in home prices has hit zero
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