In just a matter of months the coronavirus pandemic dramatically changed the landscape of the housing market, especially in big cities. But now news of a promising vaccine could turn things on its head again.
But the most expensive urban areas have been experiencing the opposite problem. Cities like New York and San Francisco have seen higher vacancy rates and lower rents and sale prices as many people, untethered from office jobs, retreated to the suburbs and less densely populated areas.
But with potential vaccines on the horizon, real estate in big cities could see a turnaround.
“It’s not going to be a light switch,” said Jonathan Miller, president of Miller Samuel, a real estate…