This article addresses the “urban flight” story that has circulated since the pandemic shutdowns of a year ago.
I’ve pulled out an important quote from the article from the Federal Reserve economist that provided the data in this piece.
The urban flight phenomenon is mostly from renters moving, not home owners.
“the data also shows that the trend is primarily among renters.”
“Homebuyers have really not slowed down their inflow,” Whitaker said. “If you’re thinking about your future in long enough terms to be thinking about buying a condo or a house, then you’re looking past the pandemic.”