Some 33.4 percent of single-family homes for sale in the U.S. in the first quarter were newly built. According to Redfin, that’s unchanged from Q1 of 2023 but down from a record-high 34.5 percent two years earlier.
The portion of housing supply that’s newly built is still roughly double pre-pandemic levels.
The share of for-sale supply that’s newly built has declined slightly from 2022 because total inventory has crept up from last year’s historic lows. For new-construction homes, there were 8.3 months of supply on the market nationwide as of March, compared to 3.2 months for existing homes.
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