Where It’s At

New Homes are where it’s at.

By ‘it,’ I mean inventory.

Given low supply of existing homes, home buyers have figured out that new homes offer an effective place to find homes for sale.

Here are the stats…

Inventory of existing homes is down 7.7% year over year. And, last year’s inventory was historically low.

Meanwhile, sales of new homes rose 4.4%. This increase was much more than most analysts expected.

New Homes are where it is at.