The new home market in the U.S. is showing surprising resiliency during 2020's coronavirus pandemic.
The following chart shows the trailing twelve-month average of the market capitalization of the U.S. new homes, where we see that after last peaking at $21.7 billion in December 2020, the market cap of all new homes sold in the U.S. has ranged between $21.34 billion (March 2020) and $21.45 billion (January 2020) in the five months since, with the initial estimate for May 2020 at $21.38 billion.
That's pretty remarkable because the market for new homes could very well