Purchases of high-end homes in the U.S. jumped 26% year over year during the three months ending April 30, outpacing the 17.8% gain in purchases of affordable homes and the 14.8% increase in purchases of mid-priced homes.
While longer-commute areas have a much greater market share in single-family home building, the single-family construction growth rates in the first quarter of 2021 were strongest in the areas with the shortest commuting times.
Multiple retailers and contractors have noted a return by consumers to the category due to technological advances and the outstanding durability of the product.
As more people are vaccinated and group activity slowly resumes, flooring professionals are cautiously optimistic, and are looking forward to showcasing the designs we’ll see in our leisure spaces in the coming months.
Sales of newly built, single-family homes rose 20.7 percent from an upwardly revised February number, to a 1.02 million seasonally adjusted annual rate.
“The activity architecture firms are seeing is a positive bellwether not only for the construction outlook, but also for the larger economy,” said AIA chief economist, Kermit Baker, Hon. AIA, PhD.
