To say that 2020 has been a year that has brought about the unexpected would be a vast understatement. From a changing political landscape to a global pandemic and the resulting economic impacts, 2020 has been a year that will not soon be forgotten. One other result from the pandemic has been a huge increase in the number of people working from home, and that has brought about countless changes in how managers and their employees conduct business on a day-to-day basis.

But telecommuting has brought about another unexpected consequence: a significant change in the real estate market. And while the affects of telecommuting on real estate may have been unexpected, it should probably not be surprising. What follows are some of the ways in which the real estate market has changed as a result of people working from home.

• People are moving less often – For decades, we were a mobile population. In fact, in the 1980s families moved on average of every six years. But those days are gone. Now, people move only once every nine years or so. This is, at least in part, due to the increased number of people now working from home, which means fewer people needing to relocate because of their jobs. Rather than moving, many people are now choosing to upgrade their existing homes and continue to live – and work – where they currently reside.
• More people are moving away from cities – While there isn’t exactly a huge exodus from large metropolitan centers (at least not yet), real estate professionals are seeing an increasing number of people – many of whom work from home – who are choosing to live in suburbs rather than expensive city centers.
• The home office – Once only thought to be a “nice-to-have,” an increasing number of home buyers are looking for comfortable office space in their new homes. Being a successful telecommuter requires an area inside the home that is dedicated to work, but one that is also not totally separated from the rest of the family living space. This is essential for working parents with kids who are “distance learning” from home, and who now have to juggle both their work responsibilities and their parenting tasks at the same time.

The explosive growth in telecommuting has, without a doubt, brought about unexpected changes not only in the real estate market, but in virtually every aspect of our professional lives. If you find yourself managing a remote team for the first time, there’s one way that you can prepare yourself and your staff for the telecommuting challenges ahead: with MySammy. Our cloud-based software is specifically designed for managers of remote teams. MySammy measures the productivity levels of your telecommuters, and does so without invading their privacy or blocking websites. Don’t be caught unaware by the unexpected consequences of telecommuting – sign up for your free trial of MySammy today!