The COVID-19 pandemic has prompted a shift in the housing market, with Americans moving further away from established urban centers. Although the number of home sales has slowed due to rising interest rates, many Americans are still choosing to move long distances. A report from the National Association of Realtors revealed that 97% of U.S. homebuyers utilize online sites when searching for their next home.
To gain insight into the housing preferences of people in Iowa City, Stacker compiled statistics based on cross-market demand and monthly inventory data from Realtor.com. This data includes both micropolitan and metropolitan areas, encompassing cities, towns, and suburbs in the vicinity. The cross-market demand statistics are current as of the second quarter of 2023, while the monthly inventory data is as of July 2023.
According to the findings, people in Iowa City are exploring various locations when shopping for their next house. Some popular choices include Charlotte, North Carolina; Atlanta, Georgia; and Austin, Texas. These cities offer a mix of urban conveniences, cultural attractions, and employment opportunities, making them attractive options for those seeking a change of scenery.
It is evident that the COVID-19 pandemic has influenced the housing preferences of individuals in Iowa City. As remote work becomes more common and the ability to live in different locations increases, more homebuyers are looking outside their immediate surroundings. The use of online platforms has also made it easier for individuals to research and explore new areas before making a move.
Overall, the data suggests that while the pandemic has disrupted the housing market, it has also opened up new possibilities for homebuyers. The desire for a different lifestyle and the ability to work remotely have contributed to the growing trend of long-distance relocation. As people continue to prioritize their housing preferences and adapt to changing circumstances, it will be interesting to see how these trends evolve in the future.
Sources:
– National Association of Realtors
– Realtor.com