New and coming soon listings continue to ramp up, as do multiple offers.
Showing activity is also on the rise.
Listing activity continues to be ahead of last year.
It is now officially 5 years since the pandemic shutdown that sent so many workers home to work. That time saw many workers moving out for more space, and gave them the freedom to work from wherever they wanted. But now, many employers are recalling workers to the office at least a few days a week. This may cause a shift to move closer to work again to avoid a long commute. Read more about it in the article below from our blog at Keeping Current Matters.
Sharlene Hensrud, RE/MAX Results – shensrud@homesmsp.com
Headed Back Into the Office? You May Decide To Move
It’s no secret that remote work has surged over the last few years. And that flexibility gave a lot of people the freedom to move — and work — from wherever they wanted.
But now, a growing number of companies are requiring employees to return to the office. And that’s leading some people to make decisions about where they live and if they need to move.
How Return-to-Work Policies Are Impacting Housing
During the rise of remote work, a lot of employees took the opportunity to move away from expensive or crowded city centers. Some opted for suburban neighborhoods and larger homes with yards, while others relocated to more rural areas. But lately, more people are returning to the city.
And according to data from Bright MLS, more than half of workers surveyed would have to rethink where they live or deal with long drive times if their job enforced a return-to-office policy (see chart below):
And maybe you’re one of them. If you moved farther out of the city during the work-from-home era, you may be facing a longer commute that you never expected to make daily. Once you’ve done it a few times, you might find it’s something you can get used to and isn’t as bad as you may have thought.
But sometimes, it’s just too hard to make it work — no matter how much you try. A drive or train ride that seemed fine once or twice a week can feel like too much of a grind five days in a row. It may also cost too much to commute so often, take too long, or cut too far into your free time. As Lisa Sturtevant, Chief Economist at Bright MLS, notes:
“During the pandemic, when remote work became the norm, homebuyers were able to move farther out . . . But workers do not have the same flexibility that they used to, and some are going to have to make a tough choice if and when their employer calls them back into the office full-time.”
If you’re thinking you may want to move, don’t stress. Talking to an agent can help you weigh your options. Whether it’s finding a home closer to work, balancing commute time with affordability, or even selling a home in one area to buy in another, having a pro on your side makes the process easier.
Bottom Line
If having to be back in-office has you considering a move, let’s connect. That way you have an agent to help you figure out what’s possible and what makes sense for you.
Where do you see yourself living if your commute or work routine needs to change?
