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CNN - Business/Consumer

Working from home played part in home price jump

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Published 5:04 PM

Research: the "Great Reshuffling" played a big part in pushing home prices higher.

(CNN) - The "Great reshuffling" has been a huge reason why home prices have been skyrocketing.

New research shows that home prices jumped 23-point-eight percent during the pandemic, and that 15 percent of that growth was due to remote work.

Many people turned to warmer climates around the sun belt which was a significant driver in prices. By the end of the forth quarter of 20-21 the median single family home in austin grew by 26-percent. Phoenix also up by 26-percent and boise, idaho up by 24-percent.

This "Great reshuffling" has created a nationwide demand for housing. As more and more people work from home and get the choice about where they want to live.

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Vince Ybarra

Vince Ybarra joined KYMA in June 2021 and is a CBS 13 anchor.

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