The Ongoing Pandemic Continues to Increase the Appeal of Homeownership

According to the National Association of Home Builders (NAHB) Q1 2021, Housing Trends Report (HTR), 16% of American adults are considering purchasing a home within the next 12-months. That is a 6-point increase over 2020, and marks the third (and largest) year-over-year gain in the share of prospective buyers in the HTR’s history. According to the HTR this is indictive of the ongoing COVID-19 pandemic, which continues to power American’s desire to buy homes. The share of prospective buyers who would be purchasing a home for the first time was at 62% in Q1 of 2021, up only 1% from Q1 2020 findings. Leading the charge in potential home buyers are the Millennials, whose share of prospective buyers who plan on buying a house in the next 12 months doubled from 16% to 32% in the year ended Q1 2021.

FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.