COVID-19 Continues to Fuel Desire for Homeownership

Filed in Economics, Trends by on April 26, 2021 3 Comments

Interest in homeownership among prospective buyers continues to grow in the wake of the COVID-19 pandemic, with 16% of American adults looking to purchase a home in the next 12 months — up from 10% year over year — according to NAHB’s Housing Trends Report for the first quarter of 2021. This is the third — and largest — year over year increase in the series’ history.

COVID-19 Homeownership Interest

This growth is driven primarily by millennials, whose interest doubled from 16% in the first quarter of 2020 to 32% in the first quarter of 2021. Other generations saw more modest increases of one to three percentage points.

Generational homeownership interest

Regionally, interest in the Northeast more than doubled year over year, from 8% to 20%, followed by increased interest in the West (up eight percentage points to 19%), South (up five percentage points to 16%) and Midwest (up three percentage points to 11%).

regional homeownership interest

Rose Quint, assistant vice president of survey research, provides more analysis — including details on interest among first-time home buyers — in this Eye on Housing post.

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