the staff of the Ridgewood blog
Ridgewood NJ, according to Realtor.com, the prevalence of remote work has brought significant changes in various aspects of people’s lives, including home purchasing decisions. With the option of working remotely, individuals are less restricted by proximity to work in their home search, potentially able to move closer to family or to seek more spacious homes in suburban areas generally further away from downtown job centers. Meanwhile, in the current climate of record-high mortgage rates and persistently high housing prices, another aspect of remote work has drawn our attention – the ability of home shoppers to utilize flexible work modes to access a wider range of housing options, mitigating affordability concerns. This research, using Realtor.com cross-market data, affordability scores, and publicly available data on remote job openings, shows that in the least affordable urban markets, homebuyers with more flexible work modes exhibit significantly lower interest in buying from local markets when compared to their counterparts constrained by less flexible work arrangements. In other words, homebuyers benefit from flexible work modes when it comes to searching for affordability https://northerncyprusforsale.com/cheap-properties/ in the housing market.
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