Part 4 and final post in the series:
More than 14.5 million Americans are expected to relocate in 2021, the highest figure in nearly two decades. One of the key factors is this remote working being heavily adopted and likely becoming part of our post-pandemic "new normal." No longer being tethered to one location means many professionals and families will be looking to put down new roots in more affordable areas.
This is one of the predictions we also made last year. Although there has been a fair share of uncertainties when it comes to the economy, as we've already seen, real estate has been insulated against that. On top of the low rates already mentioned, and despite the predicted increase in building, inventory is still too low to meet all the demand at this time. Also, despite the unfortunate loss of countless jobs, many of them were in low-wage job sectors such as hospitality. In other words, those who have found themselves searching for work were renters and not actively on the market for a home.
