Nearly One-Third of Houses for Sale Are New Construction
A new report from Redfin says the share of newly built single-family homes on the market at the end of 2021 was at a record high as builders try to keep up with surging demand. In addition, Redfin said that more than 34.1% of single-family homes for sale in December were new construction, up from 25.4% a year earlier and the highest share on record.
“A lot of pre-owned homes are being listed, but they are just selling off so quickly–typically in a matter of days–while new homes take longer to sell…So as a homebuyer, you’re increasingly likely to see new builds when you look up homes for sale in your target area. Said Redfin Economist Sheharyar Bokhari.
Click here to read the full report at Redfin.com.
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