Featured News

Categories: US Real Estate

Telecommuting is changing real estate

The rise of telecommuting, with increasing numbers of people being able to work from their homes, is having a big impact on their real estate demands, according to a report in the New York Times.

The Times cites Bureau of Labor data that shows around 24% of employed people in the U.S. worked at home for at least part of the time during the last year. And the trend is even more apparent when it comes to those with advanced degrees, with 42% working from home at least part of the time.

Further evidence of the telecommuting trend comes from a recent survey of 23,000 home buyers by John Burns Real Estate Consulting, which found that around 30% of respondents worked at home for between one and four days a week, with 13% doing so on a full time basis.

With more people working from home, experts say the trend is having a noticeable impact on real estate, with home offices becoming more sought after. They also point to a change in migration patterns as people move away from living in big cities where they were formally employed.

“The importance of home offices has almost begun to rival the attention that buyers give to kitchens,” Robin Kencel, an associate broker with Compass in Greenwich, Conn., told the Times. “Where they will work is on nearly every buyer’s mind.”

Office spaces don’t necessarily have to be formal though, Kencel said. Indeed, many people would prefer the opposite, and look for a more “textured, comfortable feeling” with “natural light, doors to a private terrace, and great wall and floor finishes.”

In other words, people want to work in a more luxurious and comfortable setting.

In addition, they also want more flexible spaces that can serve multiple purposes, Robert Dietz, chief economist of the National Association of Home Builders, told the Times.

Telecommuting may also be one of the factors causing people to move home less frequently, the Times said. These days, the average American household moves once every nine years, compared to once every six years in the 1980s.

“If you work at home, you don’t necessarily have to move if your job moves,” said Rick Palacios Jr., director of research at John Burns. “And many companies, ours included, view e-commuting as a competitive advantage that allows us to attract the best and brightest, regardless of geography.”

Mike Wheatley

Mike Wheatley is the senior editor at Realty Biz News. Got a real estate related news article you wish to share, contact Mike at mike@realtybiznews.com.

Recent Posts

Best Cars for Realtors in 2023

In the fast-paced world of real estate, a reliable and efficient vehicle is often an…

1 day ago

How is immigration affecting the real estate and housing market

Immigration can have several effects on the real estate and housing market in any given…

1 day ago


The nSkope Predictive Analytics Report unveiled today showed that families with children under 24 years…

2 days ago

ERA REAL ESTATE EXPANDS PRESENCE IN INDIANAPOLIS METRO Top-Performing Independent Brokerage in Putnam County Becomes ERA® Powered

ERA Real Estate®, a global franchising leader within the Anywhere portfolio of brands, announced today…

2 days ago

How to Get the Most Out of Your Home Equity Loan: 6 Optimal Strategies

In this ever-changing financial landscape, homeowners now have the keys to unlock a new wealth-building…

2 days ago

What Does "Real" in Real Estate Mean?

The term "real estate" has been used for a few hundred years, with the first…

3 days ago