The number of new home sales is far off historic norms. The National Association of Realtors (NAR) just reported that the percentage of all house sales that were newly constructed homes has fallen to the lowest numbers in forty years. Here is a graph showing the percentages
This should come as no surprise as the number of new housing starts has fallen dramatically over the last several years:
We need more new construction for two reasons:
#NewConstruction #Buyers #Sellers #SimardRealtyGroup
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