DUBLIN, CA—In its recent 2020 Economic Outlook, UCLA Ziman Center for Real Estate forecasts that work from home trends resulting from COVID-19 will reshape the US housing market. These changes will likely be the norm well after shelter orders are lifted.
"Suburban housing will once again become a choice solution for both Millennials and empty nesters who very recently returned to an urban environment," says David Shulman, Ziman Center senior economist. "It also means that many workers won't have to live close to their workplace."
This trend is exhibited in many Bay Area suburbs as developers and homebuilders are experiencing increased sales from buyers planning to work from home. In many cases, these are employees of tech and other creative industries who are no longer required to live near company offices. Many are choosing larger or otherwise more suitable homes as a result of this option.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
