There are six topics that Zillow says shaped the housing industry in 2020. As the role of the home changed dramatically this year, the housing industry was left feeling relieved as the market exploded. Still, the economic impacts from the pandemic disproportionately affected renters, young adults, women, and minorities. Zillow says the top stories of 2020 include remote work opening up new housing options, the red hot for-sale market, and real estate’s digital evolution. Out of all six stories, remote work could be the most impactful, Zillow says, due to it allowing buyers to move without limitations.
Remote Work Opened Up New Housing Options
The rise of remote work could be one of the most significant and enduring shifts in the post-pandemic world, and strongly impact future housing preferences. A Zillow survey from the Harris Poll found two-thirds of those working from home during the pandemic said they would consider moving if given the option to continue working remotely, at least occasionally.
Working from home was more appealing near the water, the beach or the mountains. Page views of for-sale listings on Zillow in 20 popular vacation destinations were up nearly 50% from last year.