The pandemic has created both short-term and long-term demand in the for-sale housing market. In the short-term, low interest rates have helped to spur home buying activity. However, the pandemic also encouraged millennial adoption of homeownership, a trend that will have a lasting impact on the for-sale home market.

"Our industry is currently thriving as the desire for new homes continues to grow. While the historically low interest rate environment is clearly fueling a portion of the housing demand, we believe there are demographic shifts and lifestyle changes occurring in this country that will have a positive, long-term impact on our industry," Doug Bauer, CEO of Tri Pointe Homes, tells GlobeSt.com. "Millennials are increasingly embracing the notion of home ownership, while Americans of all ages have placed a greater emphasis on home due to the pandemic."

Millennials aren't just buying anyway. During the pandemic, the demographic has spread out into alternative markets across the sunbelt region. Tri Pointe Homes is following those buyers in 2021. "We are very excited about the growth of our early-stage divisions in markets across the country—Charlotte, Raleigh, Dallas-Fort Worth, Sacramento and Austin—which all rank in the top 25 markets in the nation and are expected to contribute to the community count and growth plans of Tri Pointe Homes over the coming years," says Bauer.