In COVID's Wake, Millennials are driving the nation's desire for bigger homes and outdoor space/.
A study from the National Association of Realtors® is confirming many of the migration trends that had been anticipated as a result of the COVID-19 pandemic. Although generally done every two years, NAR conducted a pair of Community and Transportation Preference Surveys in 2020 to accurately register the impacts of the coronavirus. The latest iteration shows younger Americans – particularly those with children – have been most affected, although those who live in walkable communities register a higher quality of life than those who live in less walkable areas.
“NAR has conducted community preference surveys for over 20 years, providing Realtors® and their communities with decades of information regarding changing American lifestyles and migration trends,” said NAR President Vince Malta. “In the aftermath of the COVID-19 pandemic, this data has become even more consequential, helping local communities and Realtor® associations implement various smart growth changes to account for these shifts.”
According to the NAR study, Americans under 40 (millennials and Generation Y) are most likely to say their overall quality of life has been negatively impacted by the pandemic, while they also note a reduced need to reside near highways, public transit or their place of work.
“Although COVID has dramatically changed people’s lives, this study shows that a substantial demand for walkability persists for Americans of all ages,” Malta added.
Among other noteworthy findings of the survey:
The NAR Survey polled residents in America’s 50 largest metropolitan areas.>
National Association of Realtors Report
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