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Are Coronavirus Fears Spurring a New Construction Frenzy?

While COVID-19 continues to be part of our new normal, recent data gives reason for homebuilders and new home communities to be optimistic during this uncertain time. New home sales fell 85% during the first four weeks of the shutdown, but the numbers have been trending up over the last few weeks as buyers get serious about social distancing, moving in waves from urban areas to the suburbs. According to recent data, this surge is fueled by young couples who are currently renting, with two incomes and are stable in their careers.