October 30, 2018, WALTHAM, Mass. — This month, Home Value Forecast takes a look at how the increase in telecommuting, paired with economic restructuring of many U.S. industries, has impacted our housing markets.
Technology has revolutionized how business is done, allowing workers to escape the office and work from anywhere. This, combined with employment gains and a shift from a labor-based to knowledge-based economy, is impacting home prices across the country.
In this month’s report, we look at a few markets in particular – Pittsburgh, Cleveland and Denver – and note how telecommuting and career trends are positively impacting these housing metros. Cities that were once industrial centers of our economy have shifted gears, and the impacts spread far wider than just jobs.
“Where you live and where you work are no longer codependent,” said Tom O’Grady, CEO of Pro Teck. “Cities that are affordable, on the rise, or provide opportunities to younger workers are reaping the benefits of telecommuting. And we expect that trend to grow.”
Click here to read the entire forecast, including data and graphs that further highlight market trends discussed in this release.
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