The Effects Of Remote Work On Real Estate Across The U.S.
May 3, 2021
Last April, real estate markets across the United States virtually ground to a halt as most viewings and closings were put on hold. A year later, we’re looking forward to what could be one of the most active seasons on record in recent years.
Key factors driving the current upturn include historically low mortgage rates and the ongoing exodus to the suburbs, which already started pre-pandemic. Another factor is a growing realization that the future of work will be dominated by remote and hybrid models. As a result, where and how people live is about to undergo a massive change.
Remote Work Is Here To Stay
Twitter was one of the first companies to give the green light to long-term remote work. In early May 2020, the company announced that employees who can work remotely will have the option to do so permanently. A few weeks later, Facebook made a similar announcement. Since last May, many other companies have made similar announcements.