Seattle Remains No.2 City for Relocation, Despite Remote Work Options
Much work in 2020 has shifted from high rises and board rooms to home offices and video calls. While some employees are itching to get back to the office and resume business as usual, it was initially believed that another subset of Seattle’s sizeable tech force was considering life outside the city.
This prediction was cause for concern at the start of the pandemic, as numerous industries contemplated what would happen if work and home life migrated beyond the urban centers of Seattle and the Eastside. But data from United Van Lines, which is reportedly the biggest moving company in the U.S., reveals that Seattle is its number 2 destination in the country (the top destination is Washington, D.C.)
According to United Van Lines’ metrics, Seattle has continued to grow during the pandemic. For every two people that leave the city, three move in. This is likely due to the numerous employment opportunities available here in the region, and the many lifestyle benefits of our region.
According to United Van Lines, about a quarter of Seattle’s new residents are moving from California; the city is also popular with former New Yorkers who appreciate that the cost of living is less expensive than New York City.
However, some Seattleites may be tempted to make a life for themselves elsewhere.
A program in Tulsa, Oklahoma is reaching out directly to remote tech workers, enticing them to move with the promise of an average home price of $137,000. The program also includes an added benefit of $10,000 in cash and access to a co-working space. (A similar program in Arkansas also gives participants a free bike.) Prospective Tulsa residents must apply for the program, but those who are accepted seem generally excited to put down roots in an area where the barrier to home ownership isn’t as high as Seattle.
Despite this, Seattle still remains a popular destination for relocation, between the numerous high tech job opportunities and the natural benefits of life in the Puget Sound. It’s clear that the city has a lot to offer those who would make their home here.
This article was originally posted on KUOW by Joshua McNichols, and on GettheWReport.com
How Is Remote Work Changing Homebuyer Needs?
With more companies figuring out how to efficiently and effectively enable their employees to work remotely (and for longer than most of us initially expected), homeowners throughout the country are re-evaluating their needs. Do I still need to live close to my company’s office building? Do I need a larger home with more office space? Would making a move to the suburbs make more sense for my family? All of these questions are on the table for many Americans as we ride the wave of the current health crisis and consider evolving homeownership needs.
According to George Ratiu, Senior Economist for realtor.com:
“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…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.”
Working remotely is definitely changing how Americans spend their time at home, and also how they use their available square footage. Homeowners aren’t just looking for a room for a home office, either. The desire to have a home gym, an updated kitchen, and more space in general – indoor and outdoor – are all key factors motivating some buyers to change their home search parameters.
A recent realtor.com-HarrisX survey indicates:
“In a June poll of 2,000 potential home shoppers who indicated plans to make a purchase in the next year, 63% of those currently working from home stated their potential purchase was a result of theirability to work remotely, while nearly 40% [of] that number expected to purchase a home within four to six months and 13% said changes related to pandemic fueled their interest in buying a new home.
Clearly, Americans are thinking differently about homeownership today, and through a new lens. The National Association of Home Builders (NAHB) notes:
“New single-family home sales jumped in June, as housing demand was supported by low interest rates, a renewed consumer focus on the importance of housing, and rising demand in lower-density markets like suburbs and exurbs.”
Through these challenging times, you may have found your home becoming your office, your children’s classroom, your workout facility, and your family’s safe haven. This has quickly shifted what home truly means to many American families. More than ever, having a place to focus on professional productivity while many competing priorities (and distractions!) are knocking on your door is challenging homeowners to get creative, use space wisely, and ultimately find a place where all of these essential needs can realistically be met. In many cases, a new home is the best option.
In today’s real estate market, making a move while mortgage rates are hovering at historic lows may enable you to purchase more home for your money, just when you and your family need it most.
Bottom Line
If your personal and professional needs have changed and you’re ready to accommodate all of your family’s competing priorities, let’s connect today. Making a move into a larger home may be exactly what you need to set your family up for optimal long-term success.