New Homes Account for 28 Percent of Houses Sold in 3rd Quarter, Lowest in 3 Years: Redfin

The share of newly constructed homes among total homes sold in the third quarter declined in the United States, affected by factors such as a slowdown in construction and an increased supply of existing houses, according to real estate brokerage Redfin. “Newly built homes made up 28 percent of single-family homes for sale nationwide in the third quarter, the lowest level in three years,” the company said in a Nov. 1 statement. “That’s down from 30.5 percent a year earlier and a record-high 34.4 percent at the start of 2022.” Redfin attributed the drop to several factors, one of which is that more existing inventory is now hitting the market....