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Buyers turn to newly built homes due to the low availability of existing homes

Posted on August 8, 2022   |  

  • In Q2, the demand for new homes recovered after falling steadily for the previous 5 quarters as 21% of prospective buyers turned to newly built homes, which is an increase of 19% compared to Q1.
  • The reason for buyers' interest in new homes for sale is due to the tight supply of existing homes and growth in the availability of new homes for sale.
  • The share of buyers that are interested in buying the newly built home grew from 24% in Q1 to 30% in Q2 while in other regions, the share declined.



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