Zoom Towns on the Rise

Yes, you read the title of the article right – Zoom Towns.

But, what are they?

These “towns” are locations that have been booming due to remote work becoming more of a reality with the many changes COVID has brought.

While this surge might be temporary (as more businesses decide to bring back their employees again), the Zoom Town Boom could potentially reshape the idea of small towns. Millennials, being the biggest home purchasing generational group of 2020, has been the one to primarily fuel this new geographical change.

Many homebuyers and owners who once felt stifled by their work location, now feel as though they can live where they’ve always wanted – tourist destinations, like beach and mountain towns.

Moving away from large cities to Zoom Towns might help lower housing costs in what would be pricier areas.

Bloomberg has reported that, “these trends probably will become clearer in the next year or two […] it now seems likely that there will be a new group of winners such as Truckee, California and Missoula, Montana amid the shift to virtual work, transforming their housing markets, and local economies forever.”

Interested in moving to a Zoom Town? Comment below!

For more real estate news and trends, check out Alliance’s Blog here.

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