In the latest analysis of the housing market, it was revealed that new homes now make up 28% of all homes available for sale, representing a significant portion of the market. However, this share saw a decrease in the third quarter of 2024 as more sellers chose to list their existing homes, impacting the overall composition of available properties for potential buyers. This shift in inventory highlights a changing dynamic in the real estate industry, with implications for both buyers and sellers alike.
Key points from the analysis include:
– New homes now represent 28% of the total homes for sale, a notable segment of the market
– The share of new homes decreased in Q3 2024 as more sellers listed their existing properties
– This shift in inventory composition reflects changing preferences and trends in the housing market
– The implications of this change will impact both buyers and sellers in the real estate industry
You can read this full article at: https://www.housingwire.com/articles/as-lock-in-effect-eases-new-construction-market-share-shrinks/(subscription required)
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