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How the Pandemic Shaped New Housing Demands

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Coronavirus Resources and Information

How the Pandemic Shaped New Housing Demands


April 29, 2021
Mom working at home
Photo: NDABCREATIVITY | stock.adobe.com

The pandemic pushed Americans to reconsider their living situations and priorities, resulting in higher standards for homes. Homebuyers today want fully functioning homes that offer space to work, play, and live, says Forbes. One result from this desire is the growing interest in newly constructed homes. New homes are increasingly appealing to prospective buyers, likely for their attractive features and the fact that nobody has yet occupied them. Some alluring features that buyers can more likely find in a new home include flex space, indoor/outdoor spaces, air purification systems, and data connectivity, according to Forbes. 

Key Features And Phrases

Sellers of existing homes are also taking advantage of some trends that have developed as a result of the pandemic. Considering inventory is low, it’s a seller’s market. Sellers are in a position of power, especially those whose homes offer two key features that buyers have identified as a new necessity.

One of the most sought-after features throughout the pandemic has been a dedicated office space. With many households shifting to working and learning from home, homeowners are placing a high value on being able to retreat to a quiet space. Not surprisingly, properties being marketed with the phrases “home office” or “home workspace” have spiked by nearly 17% in one analysis and garnered additional attention on the market.

Read More
 

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