New construction homes in the fourth quarter of 2017
accounted for 16.4 percent of all single-family homes for sale, the highest
level since Redfin began tracking this data in 2012, up from from 14.2 a year
earlier. This is a needed sign of progress in a housing market plagued by short
supply.
The median price of new single-family homes that sold last
quarter was $377,800, up 1.6 percent year over year. Compared with existing
homes, new construction sold at an average premium of $86,400 in the fourth
quarter. At the same time, existing home
prices increased 7.3 percent year over year.
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