Recovering Housing Market Calls for Adjusted Relocation Policies
Written by: LisaMarie DeSanto, Communications/PR Specialist
As the U.S. housing market continues to recover, employers would do well to adjust their relocation programs and policies accordingly. But what are the trends currently impacting real estate – and how will they impact domestic U.S. relocation programs and employees who are planning to make a move?
Recently, Cartus Director of Consulting Solutions Cindy Madden shared her expertise on this very topic during an interview with SHRM magazine in their article, Improved Housing Market Calls for More Flexibility in Relocation Programs.
According to Cindy, mortgage rates are low right now, by typical standards, but inventory is too – and median home prices are rising. Rising mortgage rates could impact affordability and slow home sales. Additional trends she cites include:
- 53% of companies are experiencing a moderate or high degree of challenge moving employees to high-cost areas.
- Due to inventory shortages, some employees may need more than one house-hunting trip.
- Strict credit standards are making it difficult for first-time homebuyers to purchase a home.
- Rental rates are rising and there is a shortage of corporate rental inventory.
Given the above factors, there are a variety of challenges employers must address to effectively implement their relocation programs and to provide a positive experience to their transferees. For specific suggestions and additional information on housing trends, please read Cindy’s informative interview.
For more information on relocation trends
For more information on U.S. and international relocation trends, read our blog posts below, listen to our recent Worldwide ERC® webinar, and download our white paper on the evolution of relocation trends:
- What You Need to Know About U.S. Relocation Trends: Cartus Releases Survey Report
- Relocation: Yesterday, Today, Tomorrow
- Worldwide ERC® webinar, Trends in Relocation - What's Hot, What's Not, and What's Just Not Going Away, listen to a recording or view the presentation slides to see how evolving trends are affecting relocation programs.
Download our white paper on the Evolution of Relocation Industry Trends to find out what your peers are saying about what’s disappearing, what is already an established practice, and what’s breaking through in relocation.