New construction continues to sell at a premium, but there's a record share of new homes on the market today relative to existing houses. Redfin Corp. found the share of newly built single-family homes hit a new high at the end of 2021, bolstered in part by homebuilders trying to keep up with demand for housing across the U.S.
“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,” said Sheharyar Bokhari, a Redfin economist. “So, as a homebuyer, you’re increasingly likely to see new builds when you look up homes for sale in your target area."
Excerpt from an article by Ashley Fahey of the National Observer
“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,” said Sheharyar Bokhari, a Redfin economist. “So, as a homebuyer, you’re increasingly likely to see new builds when you look up homes for sale in your target area."
Excerpt from an article by Ashley Fahey of the National Observer