“It’s three months into a huge, unplanned social experiment that suddenly transported the white-collar workplace from cubicles and offices to kitchens and spare bedrooms. And many employers now say the benefits of remote work outweigh the drawbacks.” Like it or not, this will inevitably change how and where people choose to live. Are you embracing the video calling and webcams so you can see your clients, prospects, and colleagues? NPR recommends you Get A Comfortable Chair: Permanent Work From Home Is Coming.
2. MIGRATION NATION
That said, “A growing share of Redfin users look to leave the Bay Area, Washington, D.C. and Seattle for places like Sacramento, Las Vegas and Nashville.” Learn what top 10 Metros by Net Outflow of Users and Their Top Destinations in this week’s Redfin article, A Record 27% of Homebuyers Are Looking to Relocate, as Pandemic Accelerates Trend Toward Affordable, Less Dense Areas.
CNBC reports 30% of Americans missed their housing payments in June. “Some 37% of renters and 26% of homeowners are at least somewhat worried that they will face eviction or foreclosure in the next six months, Apartment List reports.” Governors could extend, or put into place universal eviction moratoriums for the duration of the coronavirus crisis to prevent additional homelessness.
4. EXPO-SAY WHAT?
The National Association of Realtors®, America’s largest trade association “announced Wednesday that the 2020 REALTORS® Conference & Expo, previously scheduled from November 13-16 in New Orleans, will be transitioned to a fully virtual format in light of ongoing health and safety concerns stemming from the COVID-19 pandemic.” The NAR suggests the online format will dramatically expand member participation opportunities for the November conference. Read why Amidst Health, Safety Concerns, NAR’s 2020 REALTORS® Conference & Expo Goes Virtual.
5. THE COMEBACK COVID
“Though home prices had slowed down in recent months (they never outright declined), it appears that trend has ended. Realtor.com shows prices up 4.3% in the last week, up from a 3.7% growth rate in January. Forbes lists These Housing Markets Are Closest To Recovering From COVID-19 Setbacks. If you’re interested, they’ve also listed Realtor.com’s worst cities in America for the housing recovery.