America at Home: Rising New-Home Demand from Renters

One of the positive impacts of the pandemic on new-home construction has been the increase in the number of renters who now want to become homeowners, representing a potential new-home demand of 7.6 million. Millennial renters lead the way—58% of them say COVID-19 has made them more inclined to want to own a home, according to the America at Home Study, wave two, conducted in October. For home builders and community developers, this is both a challenge and an opportunity.