More house hunters—particularly move-up buyers—are being drawn to new-home construction in the COVID-19 pandemic, so much so that it’s driving a surge in construction across the country. Single-family starts ended 2020 with the best year in home building since the Great Recession, and 11% higher than 2019. Ultra-low mortgage rates and a shift in housing...
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The ongoing pandemic has had a vast impact on nearly every industry, and the housing market is no exception. As stay-at-home orders were enacted and financial insecurity loomed large for many in early 2020, the number of both buyers and sellers dwindled. Fortunately, the market bounced back as city dwellers sought more affordable suburban properties...
Single-family housing starts ended 2020 on a high note, rising 12% in December to a 1.338 million unit pace – the highest pace since 2006, according to the Census Bureau. That’s up 27.8% from one year ago, a remarkable figure given the economic effects of the COVID-19 pandemic, per industry officials. “2020 will go down,...