For millions of Americans, the daily commute has disappearedand so have the boundaries around where to live.
Before the COVID-19 pandemic, only about 5% of U.S. workers primarily worked from home.
This means tens of millions of Americans now have jobs not tied to a physical workplace.
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With a reliable internet connection, these workers can do their jobs from virtually anywhere.
This newfound flexibility is fueling mobility.
People who can work from home are far more likely to consider moving.
Zillows researchers dubbed this great migration the Great Reshuffling, as households rearranged themselves across the country.
Homebuyers can prioritize things like affordability, space, and neighborhood preferences over just proximity to an office.
Another reason is that many workers truly want to move when given the chance.
By 2021, over 80% of workers said they hoped to work remotely at least part-time going forward.
Some even changed jobs to keep that flexibility.
Data from the housing market backs this up resoundingly.
That is a huge jump.
Small Towns and Rural Areas Gain Appeal
Where were these remote-enabled buyers going?
They were increasingly targeting smaller towns and rural areas in search of more house for the money.
Economic data reinforces this migration pattern.
Home prices in traditionally affordable areas have soared under the remote work boom, a sign of surging demand.
Another striking study comes from Freddie Mac, which looked at home purchase data nationwide.
Popular Destinations: Zoom Towns Emerge
Specific migration patterns underscore these shifts.
But the balance shifted.
This suburban boom seems to have lasting aspects.
Generational Homebuying Trends in the Remote Work Era
Remote works impact on homebuying varies by generation.
Surveys confirm that younger workers highly value remote work and will make life changes to get it.
Its a reversal of the old pattern where people moved wherever the job was.
That means Gen Zs impact from remote work is a bit limited today.
Older Generations Join the Movement
Older generations are part of the story too.
Gen X (40s and 50s) and even some Baby Boomers have also benefited from remote work options.
Remote work can facilitate this by allowing people to move in with family without giving up employment.
This gave workers the green light to move practically anywhere.
However, by late 2022 and into 2023, the pendulum began to swing back slightly.
More employers started firming up hybrid work policies or even mandating part-time office returns.
This shift has made it less feasible to work remotely for some.
You might still move to a cheaper area, but probably one within a reasonable commute of the office.
So even hybrid policies allow a lot more geographic flexibility than the old Monday-through-Friday office routine.
This suggests that remote work is here to stay at a significant (though not total) level.
The push and pull of corporate policies will likely continue to shape relocation.
In this tug-of-war, flexible-work policies have an edge because employees clearly favor them.
Experts predict that remote work will remain a significant driver of housing choices for years to come.
This indicates a permanent shift Americans are now more open to moving long distances than they used to be.
Housing Development Responds
Another trend to watch is how housing development responds.
Were already seeing some downtown offices struggle with vacancies, while homes in outer areas stay in high demand.
The Generational Ripple Effect
We should also consider the generational ripple effect.
They may take for granted that they can job-hop and live where they just.
That erodes some of the advantage of moving.
So remote workers today have to cast their nets a bit wider to find the next affordable haven.
It broke the age-old link between job location and home location for a large segment of the workforce.
This has led to more spread-out housing demand, revitalization of some areas, and challenges in others.
Families have more choices of where to live than perhaps ever before.
The next decade will reveal just how permanent these changes are.
Early signs point to yes, at least to some degree.
The pandemic showed that work and home no longer have to be in the same place.
