Urban Resurgence: The Return of Homebuyers to the City
In a striking reversal of pandemic-era trends, homebuyers are once again flocking back to urban centers after a brief suburban exodus. This shift is detailed in a recent report by the National Association of Realtors (NAR), which highlights emerging patterns in the housing market.
During the height of the COVID-19 pandemic, wealthy urbanites from cities like New York City and San Francisco sought refuge in rural areas and small towns, leading many to speculate the demise of urban living. However, data from NAR reveals a different narrative.
Between 2017 and 2021, the share of home purchases in rural areas and small towns remained consistent. Yet, 2022 saw a notable increase, with rural areas capturing 19% and small towns 29% of the market. This surge came at the expense of suburban areas, which saw their share drop from a steady 50% to 39%.
Fast forward to 2024, and the tide has turned once more. Suburban home purchases have rebounded to 45%, while urban centers have surged to 16%, surpassing pre-pandemic levels. Meanwhile, rural and small-town purchases have returned to their typical shares of 14% and 23%, respectively.
“When bad things happen in New York, pundits often say it’s the end of the city,” notes the article from HousingWire. Yet, many New Yorkers simply relocated within the city, moving from Manhattan to Brooklyn, rather than leaving entirely.
San Francisco, with its tech-heavy population, has been slower to recover due to the prevalence of remote work. However, as major tech firms call employees back to the office, the urban housing market shows signs of revival.
Additional insights from the NAR report indicate a return to shorter migration distances, with the median dropping from 50 miles in 2022 back to 20 miles. The age of homes being purchased has also stabilized, with the typical home now being built in 1994, aligning with pre-pandemic trends.
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A federal judge has denied class‑certification in the high‑stakes Batton commission lawsuit, delivering a temporary win for NAR and major brokerages while leaving the door open for plaintiffs to try again. With as much as $3.6 billion in potential damages on the line and nearly 80% of the proposed class now disqualified due to conflicts with earlier settlements, the case stands at a pivotal moment. Real estate professionals nationwide — especially in Florida — should watch closely, as the ruling could shape the future of buyer‑agent compensation.
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Berkshire County closed Q3 2025 with strong momentum as sales, dollar volume, and buyer competition all climbed year‑over‑year. Inventory showed slight improvement but remains far below demand, keeping the market tilted toward sellers. Single‑family homes and condos led the surge, while multifamily, land, and commercial sectors showed mixed performance. The region continues to stand out as one of New England’s most resilient real estate markets heading into 2026.
Florida homeowners now face the highest insurance burdens in the nation, with average premiums topping $5,800 per year—roughly $3,000 above the national average. As rates triple for some residents, more Floridians are skipping coverage altogether, while denied claims and slow payouts add to the frustration. With over 40 percent of claims closing with no payment and lawmakers battling over reform in Tallahassee, the crisis is reshaping budgets, homebuying decisions, and the real estate industry statewide.
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The Fed’s recent rate cuts should have offered relief to commercial real estate—but long-term borrowing costs haven’t budged. While short‑term rates are falling, stubborn long‑term yields, broken deal math, and a trillion‑dollar refinancing wave are keeping the market frozen. For investors and professionals across Florida and the nation, understanding this disconnect is key to navigating the opportunities and risks emerging in today’s shifting CRE landscape.
