Zillow CEO: Real estate market is beginning ‘great reshuffling’ as people seek more space at home

Zillow CEO: Real estate market is beginning ‘great reshuffling’ as people seek more space at home

  • The U.S. real estate market is beginning to show signs of a “great reshuffling,” as people relocate to homes with more privacy and space, Zillow CEO Rich Barton said.
  • Millions of people are considering moves for a slew of reasons, mostly being to downsize, upsize or get closer to family.

The U.S. real estate market is beginning to show signs of a “great reshuffling,” as people relocate to homes with more privacy and space to ease working from home, Zillow CEO Rich Barton said on the company’s Q2 2020 earnings callthis week.

“I believe we are at the dawn of a great reshuffling,” Barton said. “I’m sure I don’t need to spell it out for you because we are all living it, spending an average of nine hours more per day at home. Zoom meetings are changing the way families think about space and privacy. Home offices are in high demand. Backyards are more desirable than parks and gyms. Work-from-home policies are eliminating the commute for many. There’s an endless list of considerations.”

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Richard 'Rich' Barton, co-founder and CEO of Zillow Inc.
Richard ‘Rich’ Barton, co-founder and CEO of Zillow Inc. Andrew Harrer | Bloomberg | Getty Images


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