Updated about 2 years ago on . Most recent reply
Is this the current trend in real estate sales?
New-home sales account for around 15% to 20% of all recent home sales and could reach 30% in some markets, compared with a historical average of 10%, according to Lawrence Yun, chief economist at the National Association of Realtors. What's your opinion on this?
Most Popular Reply
New-home sales numbers are certain to rise due to the historically low inventory of existing homes on the market right now.
A majority of homeowners have an interest rate around 3% and are very reluctant to sell their home and enter the market as a buyer where they will be looking at a mortgage rate of at least 2x that amount.
Because buyers who are in the market have little options when it comes to existing homes, they are turning towards building.