National Housing Market Outlook

As Remote Work Continues, So Does Migration

Eric Finnigan photo
Bryan Lawrence photo
Annie Radecki

Rob Flint

Reid Randall

Eric Finnigan

Bryan Lawrence

Annie Radecki

April 1, 2022

As COVID restrictions ease and the great resignation continues (and perhaps even accelerates), more companies are opting to allow permanent work from home in order to keep their talented people. As a result, buyers and renters will continue to move to desirable areas where they can get more house for their money. Below are 5 solutions to address domestic migration this year.

  1. Expect more migration winners and losers. State population growth and loss will intensify this year as migrating residents seek affordable homes and higher quality of life.

  2. Expect buyer and renter migration further from the office to continue. This can mean relocating in search of value or moving to vacation destinations (often part time or in a second home). We expect more price appreciation in the outlying areas or, said another way, the premium to live near employment to narrow. This does not mean the death of urban areas as, simultaneously, we are seeing people return to the cities.

  3. Anticipate continued consumer and investor single-family rental demand. Investors continue to view rental home as a hedge against inflationary pressures. However, we also think less sophisticated investors are looking for short-term price appreciation, which is a risky play. Falling stock prices, however, could cause some investment capital to rotate back into stocks.

  4. Accommodate permanent and hybrid work-from-home models. Smart home features and home office spaces will attract remote workers leaving the city.

  5. Work-from-home trends will allow buyers and renters to migrate in search of affordability or to be near family and friends.

Our team compiled 22 opportunities for 2022, which we will continue share over the next few weeks. They cover a wide range of topics, from affordability solutions to migration patterns. You can watch all 22 Opportunities for 2022 here.

For more information on migration trends, please fill out this form or contact one of our team members below.

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About The Author

Rob Flint
Senior Manager, Data Engineering & Development
Robert manages JBREC’s Tableau Server and the development of data and analytics dashboards.
Reid Randall
Senior Consultant
Reid conducts analysis, research, and field work to prepare consulting assignments and market research reports.
Eric Finnigan photo
Eric Finnigan
Vice President, Building Products Research & Demographics
Eric co-leads demographics research at JBREC, helping clients understand how trends in population, households, and migration impact housing demand. He also oversees the US Remodeler Index, a quarterly survey covering the residential remodeling industry.
Bryan Lawrence photo
Bryan Lawrence
Vice President, Consulting
As the Dallas/Fort Worth market leader, Bryan is responsible for conducting and managing consulting projects as well as building relationships in the market to generate consulting and research opportunities.
Annie Radecki
Annie Radecki
Senior Vice President, Consulting
Annie has over 15 years of experience in real estate and urban planning and has worked nationally on housing serving all buyer and renter types, including entry-level and active adult. Before joining John Burns Real Estate Consulting in 2015, Annie led the Market Intelligence function for PulteGroup’s Texas divisions, developing local segmentation, acquisition, and operational strategies and worked with the builder’s Pacific Northwest and Southeast markets.

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