On Your Market: A shift to rural areas may be on the rise | SierraSun.com

On Your Market: A shift to rural areas may be on the rise

While many people across the U.S. have traditionally enjoyed the perks of an urban lifestyle, some who live in more populated city limits today are beginning to rethink their current neighborhoods.

Being in close proximity to everything from the grocery store to local entertainment is definitely a perk, especially if you can also walk to some of these hot spots and have a short commute to work. The trade-off, however, is that highly populated cities can lack access to open space, a yard, and other desirable features. These are the kinds of things you may miss when spending a lot of time at home.

When it comes to social distancing, as we’ve experienced recently, the newest trend seems to be around re-evaluating a once-desired city lifestyle and trading it for suburban or rural living.

George Ratiu, senior economist at realtor.com notes: “With the reopening of the economy scheduled to be cautious, the impact on consumer preferences will likely shift buying behavior … consumers are already looking for larger homes, bigger yards, access to the outdoors and more separation from neighbors. As we move into the recovery stage, these preferences will play an important role in the type of homes consumers will want to buy. They will also play a role in the coming discussions on zoning and urban planning.

The number of people working from home has also spiked considerably, even before the pandemic came into play this year.

“While higher density has been a hallmark of urban development over the past decade, the pandemic may lead to a rethinking of space allocation.”

The Harris Poll recently surveyed 2,000 Americans, and 39% of the respondents who live in urban areas indicated the COVID-19 crisis has caused them to consider moving to a less populated area.

Today, moving outside the city limits is also more feasible than ever, especially as Americans have quickly become more accustomed to — and more accepting of — remote work. According to the Pew Research Center, access to the internet has increased significantly in rural and suburban areas, making working from home more accessible. The number of people working from home has also spiked considerably, even before the pandemic came into play this year.

Employers and employees have adapted to telecommuting and the efficiencies of a teleconference client meeting and regular communications. The availability of high speed internet has improved significantly in rural areas that has enabled this shift in where people live and how they work.

Bottom Line

If you have a home in the Sierra, you may see an increasing number of buyers looking for a property like yours. Connect with a local real estate professional and discuss the options to buy or sell in our area.

Mark Smith is the broker and owner of RE/MAX Mountain Living with offices located in Truckee and Graeagle. Mark can be reached at: mark@remaxtahoe.com.

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