October 7, 2020
Since the pandemic, smaller cities have experienced enormous residential demand. According to data from Miller Samuel Real Estate Appraisers & Consultants, July saw a 44% year-over-year increase in home sales across all suburban counties surrounding New York City while Manhattan property sales were down 56%. A similar trend has been noted in California. Patrick Carslie, Chief Market Analyst of Compass, is confirming a dramatic contrast between San Francisco and more suburban markets. Spending more time at home, residents seek more space for working and home-schooling children. And while this trend has certainly accelerated during the pandemic there has as well been a larger paradigm shift towards more approachable, neighborhood-oriented versions of urban living. Less densely populated areas often provide a greater sense of community than overcrowded cities, suggesting that the suburbs will remain very attractive for the foreseeable future. At Vista Canyon residents can benefit from the freedom of space for those who work from home with the ability to opt into the pleasures of urban amenities and nearby nature and open space areas.