From a catastrophic low in 2008 of only 550,000 private housing starts, the year 2020 ended with 1.380 million housing starts according to the US Census Bureau. This is a percentage increase of 150%. There is no denying the obvious, builders, remodelers and real estate agents alike are seeing big upswing in business even as building material prices soar.
There are numerous reasons why this is taking place, with historically low interest rates a major factor. Although interest rates alone cannot account for the large increase in business. It is now well documented that the Covid pandemic has had a significant impact on this rise in construction industry. People are now realizing that they can live and work virtually from anywhere. People have characterized it as the “rush to rural”.
What this means since employers have begun to allow workers to work virtually many have chosen to move to more rural and less urban environments where populations are less dense. Many Americans have moved to second homes and renovate while still others are either buying or building. With housing inventory being exceptionally low, meaning there are little existing homes available as well as selling at a premium, many have opted to build.
A time saving and cost-efficient option may be the modular/system-built solution. To get an understanding of this alternative visit www.vabuildingsolutions.com. There you will be given clear and discernible information about it advantages and be able to scroll through photos and floor plans.