Companies all over the world are continuing to work remotely with some even permanently. Since our work makes up a large portion of our everyday lives, it’s no surprise that the transition into working from home instead of working from an office has a large impact on where we choose to live. The city of Raleigh especially has been a new place that many have started to call home during the pandemic.
Here are 3 impacts that WFM (Work From Home) has on the Triangle housing market:
1. Less attachments to big cities: Because employees are no longer restricted to large cities like San Francisco or New York City, workers can move freely around the country. While studies show that individuals are sticking to metropolitan areas, families are more likely to make the move out to the suburbs for more room. Raleigh has seen tons of growth since the pandemic has started.
2. Surging home prices in rural areas: Since so many groups are moving away from the larger cities and densely populated areas, this makes for increased housing competition in more rural areas. Suburbs around Raleigh such as Fuquay-Varina, Holly Springs, Garner, and Clayton are especially seeing the impacts of more people coming in. Because of the rising competition, prices are increasing as well.
3. Buyers have new needs: You’ve heard the phrase “We are currently in unprecedented times,” a ton by now, but it’s true. In 2022, today’s buyers have much different needs than ever before. They are looking for large home offices for work, functional backyard spaces to host guests, and much more, that makes them distinct from previous buyers. As a seller, it’s important to keep up with these needs because it can make the difference between being sold or not.
Raleigh is constantly considered one of the fastest-growing cities in the entire United States. As a local real estate company, Raleigh Cary Realty knows this area better than anyone else. We will walk you through the entire buying or selling process step-by-step. Contact us today to get started.