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 journalArticlepeer-review

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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