As has been mentioned, one of the major effects on the national real estate market of the pandemic – and, to some extent, social unrest – is that many city dwellers are looking to move to the suburbs. The New York Times recently reported that one listing in the suburbs near New York had 97 showings and 24 offers!
In fact, New York City leads with the number of homeowners looking elsewhere, followed by Chicago, Washington, DC, St. Louis, and Miami.
Analysts warn that, while city living is particularly attractive right now, panic buying is not a good idea. Moreover, trying to sell your city home during the current conditions will certainly not bring top dollar.