Read the original article by Julia Falcon on Housing Wire.
Since the pandemic caused many employers to shift employees to remote work – some indefinitely – homeowners have left cramped spaces in large cities and retreated to more suburban and rural areas with bigger homes at a lower cost.
At the National Association of Realtors Real Estate Forecast Summit on Thursday, NAR’S Chief Economist Lawrence Yun explained that although many are working remotely now, he doesn’t expect that change to be permanent.
Yun unveiled the consensus forecast from NAR Thursday during the summit, in which a group of experts said 21% of workers are working from home now. That’s based on employees who are working from home 100% of the time, Yun said. By 2021, that number will decrease to 18%, then continue to decrease in 2022 to 12%…