Has CRE Momentum Shifted to the Suburbs?
Was the Suburban Migration Purely a Pandemic Trend?
- Migration from urban core underway before pandemic
- Driven by aging millennials forming families
- Fueled demand for single-family homes
Population Shift Already Being Felt
- Suburban CRE has largely outperformed
- Demographics to sustain trend
- Companies adapting to tight labor market, jobs following employees to suburbs
Considerations for CRE Investors
- Long-term trends will persist beyond health crisis; sustaining demand for many suburban properties
- Urban revival underway, but gradual
- Return-to-office plans could change with economy and job market
*As of 2022
Sources: Marcus & Millichap Research Services, U.S. Census Bureau, National Association of Realtors
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