Zillow chief economist: Covid-19 isn't causing people to leave big cities -- at least not yet [CNNMoney.com]
Zillow Group, Inc. - Class C Capital Stock (Z)
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Source: CNNMoney.com
Zillow chief economist: Covid-19 isn't causing people to leave big cities -- at least not yet Svenja Gudell is the chief economist of Zillow Group. The opinions expressed in this commentary are her own.Those living in America's biggest cities, where apartment-living and dense urban environments have made weathering the coronavirus pandemic more daunting, may be questioning whether they should hunker down or flee to bigger, more open spaces. But so far, while anecdotal stories abound of people leaving the nation's biggest cities, there's no data yet that shows it's a widespread phenomenon. People are still searching for homes, but traffic on Zillow does not show more urbanites suddenly looking to move into suburban or rural areas. Nor are waves of home shoppers seeking to flee large cities for smaller ones. What's more, while current and prospective buyers in urban areas are most likely to say the coronavirus pandemic has affected where they want to live, 70% of the nearly 10,700
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