Redfin: New homes accounted for 16.4 percent of all single-family homes for sale in 4Q 2017

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.

READ MORE