Real Estate Daily Report

Growing Popularity of New Construction Homes

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New Construction,Popularity,Older Homes

New construction homes are becoming more popular as older homes are scarce. The percentage of new construction homes for sale in Q4 was 31.8%. Prospective homebuyers are attracted to new construction due to increased availability and low mortgage rates.

New construction homes are growing in popularity due to a lack of older homes on the market. In Q4, 31.8% of single-family homes for sale were new construction. Prospective homebuyers are seeking new construction more often due to the growth in new home construction since 2009 and the low mortgage rates during the pandemic.

 

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