The urban real estate market has been running hot in the U.S. since last summer. But the suburbs have been even hotter, according to an analysis from Zillow Group Inc.
Zillow economist Nicole Bachaud compared the recent trend to one world-class sprinter edging out another. As with most things in real estate, location matters. Some urban areas remain exceptionally attractive to buyers — more so than their suburbs. Among them are San Jose, Calif., Silicon Valley's biggest city, and Austin, Texas, a place that has seen among the biggest gains in home prices during the pandemic.
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