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Low existing home inventory expanded buyer interest in new US homes
Posted on June 9, 2023 |
Americans are looking for new home construction as the present inventory is down and mortgage rates start to fix.
In April, sales of newly built and single-family homes increased and reached the highest level since March 2022.
Consumers are buying new houses to invest in homeownership instead of waiting for new homes to be on the market.
This housing condition is optimistic among builders, but they continue to face challenges in fulfilling the demand for new construction.