One-third of single-family homes for sale are newly built, report finds. Here’s what buyers need to know

PUBLISHED MON, MAY 20 20242:49 PM EDTUPDATED MON, MAY 20 20244:11 PM EDT

By: Ana Teresa Solá

Alistair Berg | Digitalvision | Getty Images

If you’re in the market for a home, some of the properties you see will likely be new builds.

About 33.4% of single-family homes available for sale in the first quarter were newly built, almost double from pre-pandemic levels, according to a new report by Redfin, a real estate brokerage site. 

“It doesn’t mean necessarily that new construction has ramped up,” said Robert Dietz, chief economist of the National Association of Home Builders. Homebuilders are still constructing about 1 million single-family homes a year, he said.LEARN MORE…

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