Where to buy a house in the United States amid COVID-19?

Wei Zhai, Zhong-Ren Peng*

*Corresponding author for this work

    Research output: Contribution to journalJournal articlepeer-review

    11 Citations (Scopus)

    Abstract

    Home prices and rent prices in the USA have been growing steadily over the past decade. However, the COVID-19 pandemic has decimated entire sectors of the American economy, which makes the homebuying decision more intricate. We mapped multiple metrics to indicate the best place to buy a house amid COVID-19. For many counties in the central area of the USA, the price-to-rent ratio highly recommends people to buy a house, but the home prices have declined since the outbreak of COVID-19. The price-to-rent ratio and increasing home price suggest that people should not buy a home in big coastal cities under the current circumstances.
    Original languageEnglish
    Pages (from-to)9-11
    Number of pages3
    JournalEnvironment and Planning A: Economy and Space
    Volume53
    Issue number1
    Early online date25 Jul 2020
    DOIs
    Publication statusPublished - 1 Feb 2021

    User-Defined Keywords

    • COVID-19
    • home price
    • rent-versus-buy decision

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