The pandemic turbo-charged a move away from major coastal cities, and that drop in demand led to a sharp fall in their rents relative to the national average. But with those moves now made and cities reopening, we doubt they will continue to get cheaper. However, that will still leave major coastal cities more expensive than most of those in the sunbelt. And with many workers able to work full time from home that argues against a reversal of the relative fall in rents seen over the past year.
In view of the wider interest, we are also sending this US Housing Market Update to clients of our US Commercial Property Service.
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