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%.