From The Wall Street Journal, "
Tight Supply Fuels Demand for Newly Built Homes: A recent fall in mortgage rates relieves a source of industry pressure" by Nicole Friedman:
Now, new single-family home sales are bouncing back with supply tight in the existing-home market. Active listings in March stood at roughly half of where they were four years earlier, according to Realtor.com, in part because higher mortgage rates made many homeowners reluctant to sell and give up their current low rates. (News Corp, parent of the Journal, operates Realtor.com.)
That low inventory has put home builders in a good spot. Newly built homes made up about one-third of single-family homes for sale in March, up from a historical norm of 10% to 20%.
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