1 of every 5 homes for sale in April was new construction.
The number of newly built homes on the market fell just 10.5% year over year in April, the smallest decline in 2020 to date, while the supply of existing homes plunged 24%.
With the supply of existing homes sinking, new properties now make up a bigger piece of the pie. Last month, 1 in 5 homes on the market was a newly built home. That’s up from closer to 1 in 6 last year and represents the largest share since at least 2012.
The inventory of existing homes