One-Third Of Homes For Sale Are New Construction | Real Estate

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One-Third of Homes For Sale Are New Construction.

One-Third Of Homes For Sale Are New Construction. The share of newly built single-family homes on the market is at a record high as the resale market continues to face severe shortages. Homebuilders have been ramping up inventory due to increasing buyer demand. However, builders have said surging material costs and labor and lot shortages continue to press on the level of building activity. More than one-third—34%—of U.S. single-family homes for sale in December 2021 were new construction, the highest on record, according to new research released by Redfin, reflecting the national housing market. New-home prices tend to be higher than existing homes.

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