Statewide rural home sales increased 7 percent from 2019 to 2020 while urban home sales decreased 6 percent, according to an analysis of statewide residential property transfer data by the Center for Rural Pennsylvania.
The center analyzed data from the Pennsylvania State Tax Equalization Board. It also examined data from the county assessor’s offices for Monroe, Pike, Wayne, Susquehanna, and Somerset counties to conduct more in-depth analyses of property transfers. The short study period was January 2020 to June 2021.
“The center’s analysis found that the trend in home sale increases was especially pronounced in rural counties in the northeast – Wayne, Pike, and Monroe counties,” Dr. Kyle Kopko, center director, said. “Many of the home buyers hailed from New York, New Jersey, and the Philadelphia region.”
Out-of-county buyers came from counties with higher COVID-19 infection rates than the rural communities in which they bought property, according to the data. It’s unclear whether the increase was caused by the pandemic or simply the long-term housing boom, Kopko said.
Kopko said the center hoped the information would be valuable to local officials and help lawmakers understand changes in the housing market to better serve their constituents.
The center’s analysis was released at the State Capitol Building Oct. 28.