Evercore ISI upgrades KB Home and declares this 'housing's golden age'

A construction worker on the job at a residential project during the outbreak of the coronavirus disease (COVID-19) in Encinitas, California, U.S., July 30, 2020.
Mike Blake | Reuters

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The sharp rebound of the housing sector during the coronavirus pandemic won't be a blip but instead the start of a new era, Evercore ISI said in a new note.

Housing starts and mortgage applications surged over the summer, and Evercore laid out several reasons why this increased demand has staying power. The firm upgraded KB Home to overweight from in-line and raised its estimates for other homebuilders, declaring this the period "housing's golden age."