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Single-family construction boomed in the suburbs, exurbs, and rural communities in 2020—a direct result of the COVID-19 pandemic, according to the
As existing home sales inched forward in January by 0.6%, new-home sales grew at a stronger rate of 4.3%, according to data from the Census Bureau
Although it has appeared that the suburban shift resulted directly from the pandemic, data shows this shift has been ongoing for several years, onl
Spillover, or secondary, markets are dominating real estate as more buyers move to less dense, more affordable, and spacious areas.
According to the Census Bureau, 307,000 homes were listed for sale at the end of January, but only 13.7% of those homes are built.
The share of multigenerational homebuyers advanced from 11% to 15% during the pandemic, pointing toward another trend resulting from the pandemic.