33.4% of single-family homes for sale in Q1 2024 are newly built, nearly double pre-pandemic levels, according to Redfin.

33.4% of single-family homes available for sale in Q1 2024 were newly built, nearly double from pre-pandemic levels, according to Redfin. With low supply in the housing market, buyers have turned to new construction, which offers more opportunity and better flexibility with pricing from homebuilders. New build prices have narrowed, with the median price now only about 4% higher than existing house prices.