(CNN) - The “Great Reshuffling” has been a huge reason why home prices have been skyrocketing. New research shows that home prices jumped 23.8% during the pandemic and 15% of that growth was due to remote work. Many people turned to warmer climates, which was a significant driver in prices. By the end of the fourth quarter of 2021, the median single-family home in Austin, Texas, grew by 26%. This “Great Reshuffling” has created a nationwide demand for housing as more people work from home and get to choose where they want to live.

Source: CNN May 31, 2022 14:59 UTC