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Covid-19 impact on US housing markets: evidence from spatial regression models

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  • Jim Lee
  • Yuxia Huang

Abstract

This paper empirically investigates the conventional wisdom that urban residents have reacted to the Covid-19 pandemic by fleeing city centres for the suburbs. A conventional panel model of US ZIP code-level data provides mixed evidence in support of a shifting housing preference for more space or neighbourhoods farther from the urban core. Regressions accounting for spatial dependence and spatial heterogeneity show strong support of an urban flight within metro areas, but this local phenomenon is uneven across broad regions of the United States. The finding of geographical disparity underscores both the local as well as the regional nature of housing market conditions.

Suggested Citation

  • Jim Lee & Yuxia Huang, 2022. "Covid-19 impact on US housing markets: evidence from spatial regression models," Spatial Economic Analysis, Taylor & Francis Journals, vol. 17(3), pages 395-415, July.
    • Handle: RePEc:taf:specan:v:17:y:2022:i:3:p:395-415
    DOI: 10.1080/17421772.2021.2018028
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    Cited by:

    1. Steven Bond-Smith & Philip McCann, 2022. "The work-from-home revolution and the performance of cities," Working Papers 2022-6R, University of Hawaii Economic Research Organization, University of Hawaii at Manoa, revised Oct 2022.
    2. Tsai, I-Chun & Chiang, Ying-Hui & Lin, Shih-Yuan, 2022. "Effect of COVID-19 lockdowns on city-center and suburban housing markets: Evidence from Hangzhou, China," Journal of Asian Economics, Elsevier, vol. 83(C).
    3. Sander van Cranenburgh & Francisco Garrido-Valenzuela, 2023. "Computer vision-enriched discrete choice models, with an application to residential location choice," Papers 2308.08276, arXiv.org.

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