This has encouraged the construction of single-family homes, which were up 29.4% in October compared to the same period last year.

Bigger homes, bigger prices, richer buyers

While many Americans have lost their jobs or seen their hours cut this year, the average household income of home buyers rose to $100,800, compared to $94,400 before April.

The pursuit of additional space was also reflected in sales of more expensive homes. Almost one-in-four US home buyers who made a purchase after March paid $500,000 or more. There were twice as many sales exceeding $1 million in October than a year before.

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