The impact of the COVID-19 pandemic on the demand for density: Evidence from the U.S. housing market

We study the impact of the COVID-19 pandemic on the location demand for housing. We find that the pandemic has led to a shift in housing demand away from neighborhoods with high population density. The reduced demand for density is driven partially by the diminished need for living close to telework...

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Detalles Bibliográficos
Autores principales: Liu, Sitian, Su, Yichen
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Elsevier B.V. 2021
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8439176/
https://www.ncbi.nlm.nih.gov/pubmed/34538990
http://dx.doi.org/10.1016/j.econlet.2021.110010
Descripción
Sumario:We study the impact of the COVID-19 pandemic on the location demand for housing. We find that the pandemic has led to a shift in housing demand away from neighborhoods with high population density. The reduced demand for density is driven partially by the diminished need for living close to telework-compatible jobs and the declining value of access to consumption amenities. Neighborhoods with high pre-COVID-19 home values also see a greater drop in housing demand. Moreover, we find a significant shift in housing demand away from large cities, though the magnitude is smaller.

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