While More Homebuyers Are Moving Back to the Suburbs for Work, Fewer Have the Income to Do So

Published on November 17, 2023

The COVID-inspired remote work experiment is coming to an end, with more and more employees being called back to the office.  That call has caused a shift in where people live and buy homes in 2023. According to a new report from the National Association of Realtors (NAR) and Realtor.com, the median distance between the home that buyers purchased in the past few years and the one they purchased this year was much closer to their jobs, just 20 miles away, compared to 70 in 2022. This trend has significantly affected states like Florida and towns like Austin, Texas, which saw a massive influx of residents who retreated there while their work was remote. ...

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