Buyers Are Turning to New Construction


Real Estate Bottom Line

  • Many buyers are turning to new home construction.  10% of all new home buyers said a lack of inventory of existing homes as their reason to purchase a home from a builder.
  • 40% of of new home buyers said they wanted to avoid renovations or existing problems.
  • The median home price decreased slightly from September’s high of $314,100 to $304,500 in October.
  • The western part of the country saw the largest month over month jump in home sales at 28.7%.
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