The rise of remote work and how it’s transforming housing markets across the nation
Companies have realized that remote work is not only possible but is becoming the new normal for many. Working remotely, and not full time in an office, enables those in the workforce to have more options when buying a home as choosing to live close to the office or factoring in commute options and times are not necessarily a primary factor anymore.
Before the pandemic, only 21% of individuals worked from home. However, if you’ve recently discovered remote work is your new normal, you’re not alone. A survey of hiring managers conducted by Statista and Upwork projects 37.5% of U.S. workers will work remotely in some capacity over the next 5 years.
Remote workers are craving more space, privacy and tranquility as well as convenient opportunities to spend time outdoors and get closer to nature. Although interest in zoom towns has been primarily fueled by millennials, the desire to move is also being felt acutely by families living in close quarters whose children are now learning remotely at home. (Forbes.com)
- Remote workers are far more likely to move, yet nearly 40% of employees still don’t know if or how often they must return to their workplace
- More than 80% of U.S. workers want to work remotely at least occasionally, and 44% want to work from home all the time.
- People who work from home at least once a week are nearly twice as likely to say they would consider moving because of the pandemic.
- Many workers still don’t know what their post-COVID workplace will look like, and more than one-third say the uncertainty is impacting their ability to make decisions about their lives.
Remote work is already fueling the Great Reshuffling, as people who no longer have to be at their workplace five days a week prioritize affordability and space over a short commute. This data suggests there’s far more reshuffling to come as employers and employees decide what their future will look like.
Bend, Oregon is the number one small city in America for remote work seekers, with remote job listings attracting 41.8% of applicants
Following the data, LinkedIn’s Economic Graph team showcases important new insights about the way the rise of remote work — initially dictated by 2020’s pandemic restrictions — is reshaping the U.S. economy and which cities have become hotspots for people seeking remote work. (Read the full report here)
The report summary states:
Bend, Ore., placed No. 1 on the small-cities list, with remote listings attracting 41.8% of its residents’ applications for jobs featured on LinkedIn.
Even before the pandemic, Census Bureau data highlighted Bend as having an unusually high percentage of people working from home. The region’s geography is rugged and pristine enough to attract outdoors enthusiasts, while its position between San Francisco and Seattle makes it a favored home for tech-sector specialists who can still check in periodically with their corporate employers in the big cities.
In Bend — and many other remote-work favorites — coworking facilities have sprung up or expanded, catering to people who like the bucolic life but still need a quiet desk or an occasional conference room to get things done. While shared-office coworking sites can be formed (and dismantled) relatively quickly, their steady rise suggests that a more durable ecosystem for remote workers is taking shape, across the U.S.
Live – and work – where you vacation
Central Oregon is home to world-class outdoor recreation, award-winning craft breweries, and a distinct sense of community, so it’s not too surprising that remote workers are seeking to make their favorite vacation getaway into their full-time home and why several cities – including Bend – within the area are becoming popular Zoom Towns.
Zoom Towns are housing markets that are suddenly booming as remote work becomes more mainstream. These towns are generally smaller cities, often in close proximity to amenities like beaches, ski resorts, or other attractions that tend to draw in vacationers. (Source: fool.com)
With diverse landscapes, abundant recreational opportunities, and each Central Oregon city offering its own unique flavor of charm and appeal, no matter where you live in the area, you’re just minutes away from the trails, slopes, and golf courses, making the region’s desirability as a whole an attractive place to live. And, the current fast-paced real estate market attests to the desirability of Central Oregon as home sales continue to climb, as do median home prices, with the tradeoffs of housing affordability not seeming to decrease the popularity of ‘living where you vacation’.
- Remote Work Has Changed Our Home Needs
- Making your work from home space work
- Central Oregon – Home To Zoom Towns
Let’s work together
If you’re thinking of buying or selling, we welcome the opportunity to work with you. We’ve been connecting home buyers and sellers in Central Oregon for over a decade; we know our local market and we can strategically determine your best move forward.
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