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A new survey from Zillow shows that remote working will accelerate housing demand over the next few years, as people switching to hybrid or remote work prioritize affordability over a short commute.
According to the survey, areas between 60 minutes and 90 minutes outside of major cities experience the fastest growth in home values.
For this reason, overall rents rose 9.2% year-on-year in July. In particular, nine of the country’s 50 largest metropolitan areas have seen rent levels reach 10% higher than their anticipated levels based on pre-pandemic trends.
Results showed that 64% of respondents appreciate having the freedom to live where they now want to work from home, especially Millennials and Gen Z professionals.
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Of these younger generations, 50% said they were “somewhat likely” to consider looking for a new job if they had to be in the office more than they wanted.
Most notably, 84% of those surveyed said they would like to work remotely at least a few days a month, while 44% wanted full-time remote working capabilities.
However, this desire builds on the uncertainty of what an office would look like in the era of the pandemic, with more than a third of workers claiming that Covid-19 is having an impact on how they make decisions. concerning their life.
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