A new blog from Daniel McCue with the Joint Center for Housing Studies of Harvard University explores what the surge in household growth suggests about future housing demand. Three household surveys released over the past few months by the Census Bureau all show nearly unprecedented levels of household growth from 2019 through 2021. Over the long term, less population growth could mean future household growth will continue to depend more on driving factors that are less stable and predictable, such as immigration and headship rates and the factors that support them, including changes in incomes and housing affordability. Given that household growth is the largest source of new housing demand, the impact on markets could be significant.