The potential to keep working from home has more consumers contemplating a move.
The stress of a commute was real for a lot of Americans before the COVID-19 pandemic. In a recent survey, about 20% of 8,500 workers said they had a daily commute of more than three hours. Thirty-seven percent had a commute of one to two hours, according to the survey, conducted by FlexJobs, a remote-work resource.
Because stay-at-home orders spurred by the pandemic have kept many office workers away from their desks, these lengthy commutes have largely subsided. That has caused more homeowners to reevaluate their priorities for a good home because their proximity to the office has come to matter much less. Now they’re weighing: Is there enough room for a home office? Does everyone in the family have enough space? Is there a different location to move to where everyone could be happier or where it’s more affordable?
Not having to commute was the number one benefit cited by respondents to FlexJobs’ survey, even ahead of improved work-life balance. Workers say they want flexible work options to stick around after the pandemic as well.
Further, 27% of survey respondents say that remote work has prompted them to consider moving.
“As more companies decide to extend remote work opportunities in the coming months, and as more people realize they’re not tied down to their locale for their jobs, the residential real estate market is likely to continue its shift,” FlexJobs says.
Consumers may find certain areas may be more conducive to remote work. The National Association of REALTORS® recently assigned work-from-home scores to 3,142 counties in the U.S. based on affordability. Topping its list: Forsyth County, Ga.; Douglas County, Colo.; and Los Alamos County, N.M. View the full list.
Source: “Remote Work and Real Estate: Trends and Statistics,” Flexjobs (Sept. 22, 2020)