Zillow and “The Great Reshuffling” featured on CBS Sunday Morning
On May 23, CBS Sunday Morning, one of the most popular Sunday morning news programs in the United States, featured an extended segment on a trend first coined by ZIllow Group CEO Rich Barton: “The Great Reshuffling.”
As Barton said last summer, “New habits and norms are forming rapidly right now. In many cases, as with working from home, we have found better, more efficient, and more healthy ways to live and work. We’re not going to just go back to the way things were. This is a tectonic shift that we expect to play out for years to come.”
Fast forward to late May, 2021, and CBS Sunday morning’s veteran reporter, David Pogue discussed the trend with Amanda Pendleton, Zillow’s home trends expert:
Pogue noted, “Zillow, whose website had 9.6 billion visits in 2020 – up 19 percent from the previous year – coined the term “Great Reshuffling” to describe the migration of home buyers.”
Pendleton explained: “It’s more people moving. You know, remote work has allowed us to really wrap our work around our lives, as opposed to wrapping our lives around our work.
“The pandemic really accelerated some trends that we were seeing prior to the pandemic. People are moving to metros that offer relative affordability and year-round outdoor living,” Pendleton said.
“And where are they moving from?” asked Pogue.
“We have been seeing a shift away from really expensive coastal metro areas, to some of these more affordable metros,” she replied.
Zillow Group posts research on the Great Reshuffling, and other trends that impact our customers, at https://www.zillow.com/research/.