Appearing on CNBC, Compass CEO Robert Reffkin said suburbs and second-home markets will be the real winners when the market returns.

Search trends compiled by Compass show a significant shift in interest from densely populated urban cities to suburbs and homes with more space, Compass CEO Robert Reffkin reported Tuesday morning on CNBC.

Robert Reffkin | Photo credit: Compass

“We’re seeing a 40 percent increase in searches for single-family homes and a 7 percent decline in searches for vertical condominiums,” Reffkin said in the appearance. “We’re seeing three times as many searches for pools, two-times as many searches for outdoor space, all of this reflecting a shift in interest from densely populated urban cities to the suburbs.”

Reffkin said he believes the overall disruption to the market will last until there’s a vaccine, but the interest in real estate is rising as the curve is flattening in many markets. In the past week, new listings and in-contract listings have climbed 20 percent week-over-week.

In general, people are looking for more space, according to Reffkin. The average minimum filter in Compass home searches has gone up 10 percent.

“The big winners we’re going to see here are the suburbs directly outside of the big cities,” Reffkin said, highlighting places like Westchester County outside New York City and Marin County outside San Francisco.

“The second winner will be the second home market,” Reffkin added. “People are not going to be thinking about international travel vacations, they’re going to be focused on domestic retreats and their second homes.”

See the full appearance below:

Email Patrick Kearns

Compass | homebuying
Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×