How remote work is affecting real estate across the U.S.
There 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. How are we seeing this affect the real estate market?
With workers no longer expected to show up in person, at least not daily, where they choose to live will continue to change. Many people have headed to the suburbs or rural areas.
After months of decline, there are strong signs that urban markets are beginning to pick up and will have a strong spring and summer.
However, many urbanites are no longer willing to work remotely from a barstool at their kitchen counter. In the past, the location was key and urban buyers were often willing to sacrifice floor space for a great neighborhood. With remote and hybrid work becoming the norm, even urbanites are increasingly looking for larger apartments and townhouses, which can accommodate one or more home offices and other amenities. With no expectation to commute daily, urbanites are also more likely to consider properties in neighborhoods further away from downtown business centers.
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