Companies have figured out how to have their employees work remotely to keep them healthy, safe, and productive. If you are one of these employees, you may have realized that you will be working from home a lot longer than you expected. Maybe into next year with another shutdown being threatened.
This is forcing Americans to re-evaluate their living situations. They are taking another look at their current home, the floor plan, where it is located, what their needs are and more. Space is becoming an issue whether it be more or less. This has spurred many people into moving.
“Anywhere from 14 to 23 million Americans are planning to move as a result of remote work.” states Upwork.
Upwork
Six million homes were sold in the U.S. last year. Roughly, 2-4 times as many people are considering moving now and this directly connects with their ability to work from home.
Another interesting fact is that people (45.3%) are electing to stay within a 2-hour drive of their current location. People (41.5%) are also willing to move more than four hours away from where they live now because they are working from home.
Upwork noted that people are looking for less expensive housing:
“Altogether, more than half (52.5%) are planning to move to a house that is significantly more affordable than their current home.”
Upwork
This has been a year of change and with the change has come a better understanding in what our homes mean to us. Reach out to me if you are wanting to make the move either up or down and I will put all my real estate knowledge to work to help you find your dream home.
Real Estate News
The CoreLogic National Mortgage Application Fraud Risk Index had a slight increase (2.4%) quarter-over-quarter but is still substantially down from this time last year. The large percentage of refinances are keeping overall fraud risk low. The highest risk metro is Poughkeepsie-Newburgh-Middletown NY. Florida metros continue to show higher risk than other parts of the nation, with 8 of the top 15 riskiest metros.
New home construction surges to post-great recession high in October. U.S. started construction on homes at a seasonally adjusted annual rate of 1.53 million in October. Permitted for new homes as 1.545 million in October. Economists expect these numbers to keep climbing. Demand has been boosted by historically low mortgage rates and demand for home with more space.
Local Greenville SC News
Fountain Inn is planning a 2.5-mile sewer line rehab to continue their city’s sewer system overhaul. This is a reinvestment of funds collected by the city when residents pay their water bills. This work will benefit 210 residents and 20 businesses. Affected roads are Old Fairview Road, Fairview Street, Craig Steet, Fowler Street, Andrews Lane, Ellison Street, Jones Street, Weston Street, Main Street, Wall Street, Woodside Avenue, Case Lane, and Bates Street. This will improve inflow and infiltration by rehabbing clay pipes from the 1960s.
Michelin North America plans to invest up to $175 million in equipment and machinery in Spartanburg and Greenville counties over the next five to seven years. Although they have promised no new jobs, Michelin has been seeking to fill 50 new positions at its truck tire production facility on International Drive. Open positions include production operators to forklift operators with starting pay of $14 an hour plus benefits.
People are on the move and I am ready to help you buy or sell in the Greenville area. Please contact Victoria Cottle by email thevictoriacottlegroup@gmail.com or call (864) 275-3953 for your real estate needs in the Upstate of South Carolina!
Victoria Cottle is a Realtor® in the Greenville South Carolina area and if you, a friend, or a family member need assistance with selling or buying a home I can help. Referrals and people needing relocation assistance are welcome! Search Single Family homes in Greenville. Search Condos and Townhomes in Greenville.