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"Home" Means More Now

2/18/2021

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There's nothing like having to spend all your time at home to make you fully grasp the importance of your living space. As soon as real estate was listing as an essential service last April, buyers with the financial wherewithal started competing for homes with more square footage, outdoor spaces, home offices and larger kitchens. CAR's monthly Consumer Housing Sentiment Survey also showed the percentage of consumers who thought it was a good time to buy a home actually increased with the onset of the crisis. More first-time buyers have entered the market, too, reaching the highest share in 10 years (a 38% market share), according to CAR data.
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