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The pandemic has created both short-term and long-term demand in the for-sale housing market. In the short-term, low interest rates have helped to spur home buying activity. However, the pandemic also encouraged millennial adoption of homeownership, a trend that will have a lasting impact on the for-sale home market.

“Our industry is currently thriving as the desire for new homes continues to grow. While the historically low interest rate environment is clearly fueling a portion of the housing demand, we believe there are demographic shifts and lifestyle changes occurring in this country that will have a positive, long-term impact on our industry,” Doug Bauer, CEO of Tri Pointe Homes, tells GlobeSt.com. “Millennials are increasingly embracing the notion of home ownership, while Americans of all ages have placed a greater emphasis on home due to the pandemic.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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