Is the Pandemic-Induced Move to the Suburbs Over?
January 10, 2023
Americans showed an increased preference for buying homes in suburban areas during the height of the pandemic, but that trend could now be shifting.
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Thom holds the position of professional, economist in the Office of the Chief Economist at CoreLogic. He is responsible for analyzing housing markets and home price trends. He has an extensive background in urban and real estate economics and applied econometrics.
Before joining CoreLogic, he held positions at the University of Virginia, Georgia Tech, and Harvard University. He earned his bachelor’s degree in economics, statistics and history at the University of Auckland, his master’s degree in economics from Tufts University and his doctorate in urban planning and development from the University of Southern California.
Americans showed an increased preference for buying homes in suburban areas during the height of the pandemic, but that trend could now be shifting.
The share of single-family homes purchased by investors rose every month in Q3 to reach 26% in September.
Following an unprecedented boom in global housing prices, countries are experiencing pricing corrections.
Housing declines are historically a harbinger for recessions, but does this mean that it a recession is imminent?
Home price appreciation dropped in July for the first time since December 2018, ending a 40-month streak of growth.
The share of single-family homes purchased by investors went from 16% in 2020 to 24% in 2021, and the outsized presence of mega-investors raises concerns that they are driving up prices and muscling potential homeowners out of the market.