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Remote Work Continues To Impact Buying Decisions

Work has a big impact on how and where we live. It determines what we can afford and where we need to be on a day-to-day basis. So when the pandemic began and more Americans started working remotely, it also led to some significant changes in home buying patterns. Where buyers previously valued proximity to their jobs and a short commute, they now were placing more importance on space, affordability, and proximity to family and friends. In short, more freedom to work from anywhere meant more freedom to live anywhere. But, according to the National Association of Realtors' chief economist, Lawrence Yun, it's too soon to say whether those patterns are here to stay. “We are only in the first innings of work-from-home options,” Yun said. “People have not fully digested the work-from-home flexibility model yet in determining home size and locational choice.” It's true. With many workplaces still weighing whether their employees should come back to the office full time, have a hybrid schedule, or stay totally remote, there are many Americans who are waiting to see what options they have. As those decisions get made and become permanent, it'll impact where and what home buyers are looking for in their next home.