Pandemic spores rise when houses are being remodeled

Americans are spending much more time at home over the past year due to the pandemic and adapting to this new norm, and increasingly renovating their homes accordingly. Buildfax’s recent Housing Health Report found that as more time is spent at home, homeowners have turned to renovating outdoor homes, including secondary structures, solar panels, patios and pools.

Buildfax found that single-family home permits in February 2021 were up 9.08% year over year and up 2.57% month over month. Meanwhile, the three-month trailing outlook (December 2020 – February 2021) rose 10.98% – the sixth – consecutive month of upward activity.

Much of the country’s workforce has adapted to a remote work situation, with more time being spent at home and many looking for larger, more spacious homes. More time at home has led to the construction of pools, secondary structures, solar panels and patios amid the pandemic. The highest year-over-year growth was seen in the construction of pools with a growth of 35.39% over 2020 as a secondary structure for home offices with a growth of 24.39% over the previous year.

“As we approached a year after the COVID-19 pandemic broke out, we saw some clear trends related to homeowner behavior that may persist,” said Jonathan Kanarek, executive director of BuildFax Off-Home Projects, around their living spaces to improve or expand – for example, installing a pool or office space in the backyard. These projects reflect changes in the way Americans use their homes after adjustments to remote working and less travel were made amid the pandemic. Overall, investment in existing housing stock has seen remarkable growth as Americans continue to spend time at home and prioritize home improvement rather than re-entering the competitive housing market. “

Spending more time at home has also resulted in increased energy bills as homeowners have turned their attention to energy efficiency and cost-cutting measures, and solar panel installation has increased 14.62% year over year from 2020.

Click here to access Buildfax’s February 2021 Housing Health Report.

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