San Jose.Walter Bibikow/Getty ImagesAs companies call employees back to the office, more people are moving closer to their workplaces.This has increased competition among buyers in cities with a limited number of homes for sale.Buyers in San Jose face fierce competition and face the most above-asking prices in the nation.The rise of remote work freed many Americans from the daily commute to an office, empowering them to live wherever they choose.It led many people to leave bustling cities in the Northeast and on the West Coast for smaller spots in the South, particularly in states like Texas and Florida, where the cost of living is relatively lower, and the climate is more enjoyable.However, as businesses nationwide summon employees back to the office, many former remote workers are returning to the cities they once left or moving to commutable places.
Return-to-office Mandates Are Helping Drive Up Housing Prices In These 10 Cities
alloyd@insider.com (Alcynna Lloyd), Business Insider
Sat, 09/21/2024 - 2:17am
Topics: west coast federal reserve hannah jones california bay area adobe google zoom amazon january lex orosco real silicon valley bay area boston.sergii figurnyi/shutterstockmedian richmond seanpavonephoto worcester bridgeport denis tangney jr/getty new haven christian hinkle/shutterstockmedian alexander spatari/getty kansas eddie brady/getty hartford jose getty walter bibikow/getty images san americans northeast realtor francisco silicon valley us business insider boston virginia massachusetts sean pavone/shutterstockmedian connecticut new buffalo york city return-to-office drive prices cities home selling typical real-estate homes competition employees market people companies rates tech work remote areas sale moving closer face millionpercent continue rise broker sell economic major policies data inventory interest announced live offices nationwide workers buyers
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09/21/2024 - 1:39 am | View Link - Return-to-office mandates are helping drive up housing prices in these 10 cities
Cities on or near the East and West Coasts are seeing more buyer competition as the dominance of remote work wanes and employees relocate closer to their offices.
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