Sell Your Home or Lose Your Job? Americans Could Take Real Estate Losses Of $100,000 Trying to Relocate
Nasdaq In an already difficult housing market, return-to-work policies, which are increasingly being enforced across the country are also taking a toll on Americans.
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Indeed, a whopping 10% of home sellers are moving because theyre being called back to the office, according to a Redfin survey.
Return-to-office mandates are forcing some people to choose between selling their home at a loss or losing their job, according to Redfin.
Redfin added that while returning to the office wasnt the most common reason respondents listed for moving, the response rate is notable because back-to-office mandates are an emerging cause of relocation.
Whats more worrisome is that some of these sellers could take real estate losses of $100,000 trying to relocate, Refdin added.
Danielle Hale, chief economist at Realtor.com said, roughly a quarter of recent purchasers did not know what their long term working situation would be, and at that time, 8% noted that they would sell their home if they needed to go back to the office full time.
