SANTA CLARA, Calif.,
July 29, 2020 /PRNewswire/
-- Many families quickly adjusted their current living space
to accommodate working from home, but those who expect the change
to be permanent are likely to pull the trigger on a new home
purchase in the next six months, according to a
realtor.com® HarrisX survey of active home shoppers
released today.
Of the 2,000 home shoppers surveyed in June who plan to purchase
a home in the next year, 63 percent of those currently
working from home indicated their decision to buy a new house was a
result of their ability to work remotely. Nearly 40 percent of
those who said remote work was fueling their search expected to
purchase a home within four to six months, and 13 percent said
changes related to COVID prompted their desire to purchase a new
home.
Having a home office is very important for people who work
remotely, but not at the exclusion of more conventional features.
Over 20 percent of respondents who are buying because of remote
work say that having a home office is important to them and a home
office was the most chosen new home feature. Similar to overall
home buyers, the five next most popular features were a garage, a
quiet location, an updated kitchen, a large backyard, and an open
floor plan.
"The ability to work remotely is expanding home shoppers'
geographic options and driving their motivation to buy, even if it
means a longer commute, at least in the short term," said
realtor.com® Senior Economist George Ratiu. "Although it's too early to tell
what long-term impact the COVID-era of remote work will have on
housing, it's clear that the pandemic is shaping how people live
and work under the same roof."
Today's remote work snapshot
According to the data,
nearly 40 percent of currently employed respondents are currently
working from home as a result of COVID. Thirty-five percent of
respondents were remote employees before COVID happened and 28
percent are still going into their place of employment.
When given the choice of working remotely or in an office
setting 52 percent of remote workers indicated they prefer to work
from home. Interestingly, 39 percent prefer to work in an office
setting and 9 percent said it makes no difference to them.
Accommodating remote work at home
With entire families
at home, finding a quiet place for work or school has been
challenging for many. Fifty percent of respondents do the majority
of their work in a home office. Fifteen percent work in their
bedroom, 13 percent in the living room, 12 percent at the kitchen
table and 7 percent move from room to room depending on where their
family is.
In order to accommodate work from home, 45 percent of
respondents converted a room in their home to an office. Thirty-six
percent created a home office space and 28 percent updated their
existing office space with a new monitor, chair, etc. Only 7
percent have not made any accommodations or already had a good
office set up at home.
Majority of respondents anticipate some aspect of remote work
in the future
With many companies and schools pushing back
return dates, especially as new COVID outbreaks continue to
increase across certain regions of the country, 53 percent
anticipated that they will be working in an office full-time.
Approximately one in five, 22 percent, of those surveyed expect a
mix of in-office and remote work, while 14 percent responded they
don't anticipate ever returning to the office.
Flexibility also seemed an option among survey respondents, with
63 percent indicating that their employer will be open to remote
work in some capacity. Of these respondents, 40 percent stated that
their employer permitted a mix of office and remote work and 16
percent said their employer permitted remote work entirely. Only 37
percent indicated they are required to be in the office full
time.
Of those stating that they will resume going into the office
either full or part time, 40 percent anticipated it would be within
the next three months, while 46 percent thought it would be within
the next three to six months. Thirteen percent thought they would
return in 2021 and 2 percent said never.
For more information about realtor.com's remote work survey,
please visit:
https://www.realtor.com/research/home-buying-2020-remote-work-post-covid
About realtor.com®
Realtor.com®
makes buying, selling and living in homes easier and more rewarding
for everyone. Realtor.com® pioneered the world of
digital real estate 20 years ago, and today through its website and
mobile apps is a trusted source for the information, tools and
professional expertise that help people move confidently through
every step of their home journey. Using proprietary data science
and machine learning technology, realtor.com® pairs
buyers and sellers with local agents in their market, helping take
the guesswork out of buying and selling a home. For professionals,
realtor.com® is a trusted provider of consumer
connections and branding solutions that help them succeed in
today's on-demand world. Realtor.com® is operated by
News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move,
Inc. under a perpetual license from the National Association of
REALTORS®. For more information, visit
realtor.com®.
Media Contacts:
Cody Horvat,
cody.horvat@move.com
Lexie Holbert,
lexie.puckett@move.com
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SOURCE realtor.com