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The impact on Real Estate, working from home.

Posted by k5j9m on July 22, 2021

The impact on Real Estate, working from home.

If you fall in the category of working from home you may have opportunities you didn’t realize.

With the rise in remote work, many in the workforce no longer need to be tied to a specific area. Therefore workers have more flexibility when it comes to where they can live.

You could move to an area you’ve always dreamed of vacationing in or simply an area that features better weather.

Without your job tying you to a specific location its easy to find your ideal spot.

Cited by The Counselors of Real Estate (CRE), many homebuyers are taking advantage of this flexibility:

Top Ten Issues Affecting Real Estate

“after years of varying trends towards urbanization, the pandemic universally caused a movement away from urban cites. Particularly for those with higher incomes who could afford to move.”

See a summary of the number one issue affecting Real Estate according to the CRE

1. Remote Work and Mobility

COVID-19’s significantly impacted human behavior in how and where space is used.  Now with an escalating return to “normality” as of June 2021, 32% have returned  to work, .  One of the greatest lessons learned during COVID is the benefit of flexibility.

It is clear that remote working and the acceleration of internet retail and along with a demand for more natural spaces and other pandemic-era, behaviors will remain.  We learn as an industry that flexibility and adaptability are paramount goals in real estate. As the recent rapid growth all things virtual has made the world smaller, we will soon learn the resulting changes in movement of people and spaces we use.

Time will tell as to which population migration and space use behaviors will remain. Real estate sectors will be watching closely and poised to react.  Property owners and managers should be flexible in order to accommodate these changes in use and location of space.  It is for these reasons, The CRE believes remote work and mobility gets the number one spot on the 2021-22 Top Ten Issues list

Credit to CRE for article information

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