{"id":76773,"date":"2023-09-13T05:00:07","date_gmt":"2023-09-13T12:00:07","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=76773"},"modified":"2023-09-12T15:06:30","modified_gmt":"2023-09-12T22:06:30","slug":"moving-return-to-office-survey-2023","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/moving-return-to-office-survey-2023\/","title":{"rendered":"1 in 10 Home Sellers Are Moving Because They\u2019re Being Called Back to the Office: Survey"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><i><span style=\"font-weight: 400;\">Return-to-office mandates are forcing some people to choose between selling their home at a loss or losing their job.<\/span><\/i><\/h3>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><i><span style=\"font-weight: 400;\">Roughly 20% of surveyed sellers say they\u2019re moving due to safety\/crime concerns, a desire to live somewhere more aligned with their social views and\/or lower taxes.<\/span><\/i><\/h3>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><i><span style=\"font-weight: 400;\">About 10% of respondents cite discrimination in their neighborhood and\/or worries about climate change as reasons for their move.<\/span><\/i><\/h3>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><i><span style=\"font-weight: 400;\">The most common reasons respondents give for relocating are the desire for more space, proximity to family and a lower cost of living.<\/span><\/i><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Return-to-work policies are motivating one of every 10 (10.1%) U.S. home sellers to relocate.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That\u2019s according to a Redfin-commissioned survey conducted by Qualtrics in May and June 2023. The survey was fielded to 5,079 U.S. residents. This report focuses on the 616 respondents who indicated that they\u2019re likely to sell a home and move in the next year.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While returning to the office wasn\u2019t the most common reason respondents listed for moving, the response rate is notable because back-to-office mandates are an emerging cause of relocation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In <\/span><a href=\"https:\/\/www.redfin.com\/city\/2287\/ID\/Boise\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Boise, ID<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/www.redfin.com\/premier\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Redfin Premier<\/span><\/a><span style=\"font-weight: 400;\"> real estate agent <\/span><a href=\"https:\/\/www.redfin.com\/real-estate-agents\/shauna-pendleton\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Shauna Pendleton<\/span><\/a><span style=\"font-weight: 400;\"> has a pair of clients who are selling their home after only about a year because their Seattle-based employer is requiring them to return to the office. They will likely have to sell at a loss since they bought when home prices were near their peak.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cMy sellers both work at the same company, which told them they have to be in the office three days a week or they\u2019ll lose their jobs. They have six months to make the move,\u201d Pendleton said. \u201cThey\u2019ll probably have to take a $100,000 <\/span><a href=\"https:\/\/www.redfin.com\/news\/homeowners-selling-at-a-loss-2023\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">loss<\/span><\/a><span style=\"font-weight: 400;\"> on their home. Their new house in Seattle won\u2019t be anything close to the size of their property in Boise, and their mortgage rate will be much higher.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Amazon, Apple, Goldman Sachs, Google, JPMorgan Chase and Meta are among the major corporations that have asked their employees to come back to the office at least part time.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Redfin <\/span><a href=\"https:\/\/www.redfin.com\/news\/all-hands-email-on-hybrid-work\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">asked<\/span><\/a><span style=\"font-weight: 400;\"> employees living within a 20 mile radius of its Seattle, San Francisco and Frisco offices to return to the office two days a week, but did not ask employees to relocate.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Roughly 1 in 5 Respondents Cited Social Views, Taxes, Crime as Reasons for Move<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">With mortgage rates near the highest level in over two decades, there <\/span><a href=\"https:\/\/www.redfin.com\/news\/high-mortgage-rates-lock-in-homeowners-2023\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">aren\u2019t<\/span><\/a><span style=\"font-weight: 400;\"> a ton of people selling their homes, meaning many of those who <\/span><i><span style=\"font-weight: 400;\">are<\/span><\/i><span style=\"font-weight: 400;\"> selling are doing so because they don\u2019t have the luxury to wait. But the results of Redfin\u2019s survey show that movers today are still considering factors including climate change and social issues when deciding where to live.<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-76774\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/09\/final-office-survey-chart-1024x611.png\" alt=\"\" width=\"900\" height=\"537\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/09\/final-office-survey-chart-1024x611.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/09\/final-office-survey-chart-300x179.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/09\/final-office-survey-chart-768x458.png 768w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/09\/final-office-survey-chart-1536x916.png 1536w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/09\/final-office-survey-chart.png 1558w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Nearly one in five (19.3%) respondents with plans to sell their home in the next year said they want to relocate to live in a place better aligned with their views on social issues. A similar share cited lower taxes (19%) and concerns about safety\/crime (17.9%).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Also notable:<\/span><span style=\"font-weight: 400;\"> one in 10 (10.6%) respondents said they\u2019re planning to move because they\u2019ve dealt with discrimination in their neighborhood. A similar share (8.4%) listed concerns about the impact of climate change on their neighborhood as a reason for relocation.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cReal estate is all about priorities and compromise,\u201d said Redfin Chief Economist <\/span><a href=\"https:\/\/www.redfin.com\/news\/author\/darylfairweather\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Daryl Fairweather<\/span><\/a><span style=\"font-weight: 400;\">. \u201cWhile a lot of homeowners are staying put, refusing to give up their rock-bottom mortgage rates, some are opting to trade their low rate for a safer neighborhood, lower taxes and\/or neighbors with the same political views.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The desire for more space is the most common factor driving people to relocate, with one-third (33.8%) of respondents citing it as a reason for their move. Next came the desire to be closer to family (22.6%), followed by the desire for a lower cost of living (21.6%).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Many of the people who are moving today want homes that are bigger <\/span><i><span style=\"font-weight: 400;\">and <\/span><\/i><span style=\"font-weight: 400;\">less expensive. While those two pursuits may seem contradictory, some house hunters are achieving both by moving somewhere that\u2019s more <\/span><a href=\"https:\/\/www.redfin.com\/news\/housing-migration-trends-july-2023\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">affordable<\/span><\/a><span style=\"font-weight: 400;\">. Of course, high mortgage rates are eating away some of the benefit of relocating to a less expensive place, with the average 30-year-fixed mortgage rate now at <\/span><a href=\"https:\/\/www.freddiemac.com\/pmms\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">7.12%<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Return-to-office mandates are forcing some people to choose between selling their home at a loss or losing their job. Roughly 20% of surveyed sellers say they\u2019re moving due to safety\/crime concerns, a desire to live somewhere more aligned with their social views and\/or lower taxes. About 10% of respondents cite discrimination in their neighborhood and\/or [&hellip;]<\/p>\n","protected":false},"author":13346,"featured_media":76775,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[60,8],"tags":[20,623,35],"dashboard":[],"coauthors":[125],"class_list":["post-76773","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coronavirus-housing-market-news","category-housing-market-news","tag-housing-affordability","tag-national","tag-redfin-surveys"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>1 in 10 Home Sellers Are Moving Due to Return-to-Office Policies<\/title>\n<meta name=\"description\" content=\"The most common reasons respondents give for relocating are the desire for more space, proximity to family and a lower cost of living.\" \/>\n<meta name=\"robots\" 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