By Marilyn Pearson-Adams,
BROKER-Owner CENTURY 21 Alliance Realty
Large numbers of Americans have relocated since the pandemic. More than 15.9 million people have filed a change-of-address with the United States Postal Service from February through July.
As the reality of not having to go to the office, coupled with the realization that working from home most likely is a long-term way of life, more and more individuals and families have become acutely aware that if I can work from home, I can work from anywhere, so why am I living here?
The majority of those moving during the pandemic are leaving highly populated cities. Areas with the highest number of individuals leaving during the coronavirus pandemic include New York City, Brooklyn, N.Y., Chicago, San Francisco, and Los Angeles. Areas with the highest gain of new residents include Katy, TX, Richmond, TX, Frisco, TX, East Hampton, NY as shown in the graph below.
In addition to those relocating, our time over the past several months sheltering at home during this pandemic has sparked a re-imagining of our existing space. Our homes have become our coveted sanctuaries where we are transforming space into an office/school/gym/restaurant/entertainment center, all while trying to figure out how to keep our lives organized and safe. As a matter of fact, since March more than three-quarters of current homeowners have undertaken at least one home improvement project to help make their current home more comfortable and functional.
As we re-imagine home, homebuyers’ wish lists are changing. Homebuyers want more yard space for entertaining, gardening, and a place to enjoy nature, walk, and bike ride. If available, a separation between neighbors is preferable, high-speed internet for work at home and school is becoming a priority, touchless faucets, keyless doors, and high-quality air filters are finding their way on the wish lists.
This unique season we find ourselves in has also allowed us to spend more time with family, a chance to slow down a little and take in the nature around us, and to tackle some long-awaited home improvement projects.
Until next month we wish you all continued health and a safe place to call home.
Source:
National Association of REALTORS®, Coronavirus Moving Study: People Left Big Cities, Pew Research Center (July 6, 2020), MyMove.com (Oct. 12, 2020)
