This year, COVID-19 changed the way people buy and sell homes. Virtual home tours have replaced open houses, remote loan closings are available in some states, and home buyers’ purchase criteria have changed as they spend more time at home — just to name a few.
Now, we’re seeing another new trend emerge, known as “Zoom” towns. “Zoom” towns are areas where housing markets have heated up because people who are working from home can live anywhere without worrying about how close their house is to the office.* These destinations are often vacation towns or suburbs of larger metropolitan areas that offer more space for people to spread out.
If you’re one of the 33 percent of Americans who are still working remotely and you’re in the market for a new home, the “Zoom” town phenomenon gives you a lot more options to choose from. Whether you want to live in a coastal beach town, rural America or a trendy suburb of your favorite city, it might now be a possibility.
And if you’ve always dreamed of living in a big city, but couldn’t afford to, now may be a good time to re-consider. As people leave urban areas in search of more space, housing prices in some big cities are falling, making buying a home more affordable.
No matter where you want to live, Homeowners Financial Group can help you find the mortgage that’s right for you. Give us a call today and one of our Licensed Mortgage Professionals will help you get started.
*Please review state licensing or other restrictions applicable to your profession including maximum commute distances.