Two years after fleeing to the suburbs, homebuyers have flocked back to cities

The share of home purchases in the suburbs surged in 2024, reaching 45%, while urban areas also rebounded, demonstrating a recovery from pandemic-induced migration trends.

Contrary to the narrative of urban decline, cities like New York and San Francisco are witnessing a shift back to pre-pandemic purchasing patterns, especially in suburbs.

The pandemic triggered a notable surge in home purchases in rural areas and small towns, but by 2024, these shares have returned to near pre-pandemic levels.

While urban centers were predicted to lose their appeal, the data shows that post-pandemic, there’s been a resurgence of interest in city living.

Read at www.housingwire.com