Auburn area sees major growth in home sales and construction amid pandemic
AUBURN, Ala. (WTVM) - The pandemic has hurt several industries, but home sales and new construction have been strong in 2020.
In the Auburn area, homes ranging in price from $200,000 to half a million have been the strongest growth segment with double-digit percentage jumps in the price range.
Homebuilder Alex Wascom with Harris Doyle Homes, said the low interest rates have been a big factor, but there have been challenges in new construction as well.
“So, it’s really helped us out with sales and building new construction,” said Wascom. “We’ve had a little bit of trouble getting supplies like window sand things of that nature since the pandemic has hit, but other than that, it’s been really strong and we’ve been very busy.”
A Forbes article suggests that several of job relocations through the year along with low interest rates have been a big reason for the push nationwide. The sales demand is expected to continue into 2021 as well.
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