Will COVID-19 positively impact the suburban housing markets?

June 18, 2020 - By marketing@allentate.com

Despite the fact that many Americans have been forced to work from home during the coronavirus, many are now reporting they’d like to continue that trend in the future.

 A recent poll found that nearly 43% of all American employees would like to continue working remotely on a routine basis, even after they’re able to return to work once the pandemic threat dissipates— and many employers are already looking into making this a reality.

 Could the work from home trend encourage more employees to buy homes in the suburbs now that a longer commute wouldn’t be such an issue? 

 Many real estate experts— myself included— think so, and expect to see an uptick in the suburban housing market as a result.

 Additionally, recent data from a Harris Poll suggests that nearly a third of all Americans are considering moving to less densely populated areas in light of the pandemic. 

 Life in the Carolinas has always been desirable for many— our low cost of living, bustling economy, affordable housing market, mild temperatures and high quality of life have all influenced many to relocate to the Carolinas in recent years, and now, in the wake of the pandemic, I’m anticipating we’ll see an even bigger in migration effect. 

 Will the work from home trend and the desire not to commute or Americans fleeing larger metropolitan areas continue long after the pandemic is over? Only time will tell, but I’m already predicting the Carolinas will see the ripple effects from these two factors for years to come.

–Pat Riley
President/CEO, Allen Tate Companies

Related reading

How will the coronavirus impact home values?

Refinancing your mortgage in the time of COVID-19

Category  Real Estate