More bad news for the Boston commercial real estate market
A survey has shown that almost 60% of homeowners who bought their house within the last 12 months are currently working remotely, and that 62% would prefer to continue to do so even after the pandemic ends.
Realtor.com’s survey also found that, as employers attempt to convince workers to return to the office, 48% of respondents said they’d try to arrange more flexible schedules that would allow for them to work remotely some of the time, and in the office only on occasion. Moreover, a quarter said they would look for a new job if forced to return to the office, while 30% said they would willingly return full time.
Another 8% said they would even sell their home and move closer to work again if they are required to work full time at the office.
The survey acknowledges as trend that has seen many people move further away from their workplaces since the COVID-19 pandemic began. Almost one in 10 respondents said they would now have to commute for at least 30 minutes if they had to go to work at the office, while 18% said their commute would be more than 60 minutes each way.
“Throughout the last year we have seen home buyers across the country, empowered by the newfound ability to work remotely, moving farther and farther from crowded urban downtowns in search of more space, higher quality of life, and a lower cost of living,” George Ratiu, senior economist at realtor.com said. “Our survey data shows that people are really enjoying their new communities and larger homes, and aren’t willing to give them up anytime soon.”