Zillow’s New Construction Consumer Housing Trends Report 2021

In 2020 and 2021 the volatile real estate market reflected a quickly changing world. Covid required a new normal — remote work, quarantine, and social distancing made us rethink the space we occupied. As horizons contracted, many home buyers started to think differently about how and where they wanted to live. By the end of 2021, many buyers felt the pressure of demand exceeding for-sale inventory supply. It appears buyers have broadened their considerations to increasingly include new construction as an option. 

Zillow’s 2021 New Construction Housing Trends Report delivers our latest research on buyer behavior in today’s market.

Some key data points: 

• By the end of 2021, a frenzied housing market appears to have opened the door for buyers to consider new construction as an alternative to bidding wars and rushed offers. Buyer consideration of new construction grew by 8 points — from 62% in 2020 to 70% in 2021
• 45% of new construction buyers say they were able to take their time and explore their options, compared to 33% of existing home buyers
• 79% of new construction customers consider it very or extremely important for their home to have a particular style of kitchen, versus 57% of existing home buyers
• 64% of new construction customers considered a sense of community or belonging as highly important
• 59% of new construction buyers view being close to family and friends as very or extremely important

Get the full report now.