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Survey: Remote work continues to impact housing demand

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Market Data
Tuesday, September 21, 2021
As employers wrestle with plans to reopen workplaces this fall, a Zillow survey found 39 percent of workers still don’t know if or how often they’ll be working in the office. More than one-third of those workers (35 percent) say uncertainty is impacting their ability to make decisions about moving.

An overwhelming number of workers, 84 percent, want to work remotely at least a few days a month, and 44 percent want to work from home all the time, according to the survey.

“Workers are clear in their desire for more flexibility,” Zillow Vice President of Organizational Operations Meghan Reibstein said in a release. “It’s no surprise employees are willing to change jobs to get to this more sustainable way of working, and employers risk losing people if they ignore employees’ preferences. If given the freedom to move, employees can work where they’re happiest and most productive, which is a win for them, their organizations and their communities.”

Half of millennial and Gen Z workers (50 percent) who don’t yet know their employer’s post-pandemic plans say they’re at least somewhat likely to consider getting a new job if they end up working in person more often than they would like. Large numbers of workers report that various aspects of working from home are now very or extremely important to them, such as control over their life and their time (69 percent), and the freedom to live where they want (64 percent).

The ability to work and live anywhere is already opening housing opportunities, benefiting first-time buyers. When given that flexibility, remote or hybrid workers are more likely to say they would move (23 percent), compared with 13 percent of in-office workers.

“Lingering uncertainty over permanent flexible work policies suggests that we’re closer to the beginning of the Great Reshuffling than the end,” Zillow senior managing economist Chris Glynn said. “As more people learn how often they’ll have to be at their workplace or make a job change to gain that flexibility, we expect to see more people move. Remote work will be a significant driver of housing demand for years to come, along with demographic trends.”

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