New construction sales hit a new high last quarter, according to new numbers out from Redfin. An estimated 29 percent of U.S. single-family homes for sale last quarter were new builds—the highest share of any third quarter on record.
That’s up from 25 percent in the third quarter of 2021 and 18 percent in the third quarter of 2020. The highest share of any quarter on record was 34 percent in the first quarter of 2021.
Single-family housing starts rose 14 percent year-over-year in 2021, the largest annual increase since 2013.