Homebuilders will take on fewer new projects next year as they focus on getting their existing projects sold, according to a new report from real estate brokerage Redfin.

Twenty-nine percent of U.S. single-family homes for sale in the third quarter were new construction—the highest share of any third quarter on record, according to Redfin.

That a good tick higher than the 25% in Q3 2021 and 18% in Q3 2020.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

National
Multifamily
Midwest
Northeast
Southeast
West