Is remote work driving homebuyers to the suburbs?
Buyer preference and a decline in lot supply could push developers farther away from the urban core.
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Since quite early in the pandemic, analysts have been predicting that remote work could lead to a larger suburban migration as homeowners seek more space and worry less about commute times. In the most recent COVID-19 Housing Update webinar, Zonda’s Senior Managing Principal Tim Sullivan and Chief Economist Ali Wolf took a look at the hard numbers and found some truth to this prediction in many markets.
In major markets such as Atlanta, Austin, Nashville, and San Francisco, just to name a few, the highest-selling home locations have moved farther away from the central business district this year compared with last year. Another possible contributing factor? Lot supply. Third-quarter data showed a 10 percent year-over-year decline in lot supply, making it harder for builders to bring new projects to market.
As developers move farther away from the urban core in search of lots, propane community systems offer a way for builders to offer desirable gas amenities even in locations where the natural gas mains don’t yet extend. Two great places to learn more are The Ultimate Guide to Community Propane Systems, an e-book with case studies and valuable resources for builders and developers planning new communities; and our Propane Training Academy course Community Propane Systems: An Energy and Technology Solution for Developers, Builders, and Homeowners.