What's Hot: The 4 Projects in the Works (Or on Hold) Near DC's Starburst Intersection | This Week's Find: Fit For Art in the Palisades
New Houses Everywhere: 25% of Houses on the Market Are New Construction

One in four houses on the market was new construction in the first quarter of 2021, the largest share on record according to a new report.
25.7% of houses for sale during the first quarter of the year were new construction, per Redfin, up from 20.4% a year ago.
In addition to fewer homeowners putting their houses on the market, this shift toward new construction reflects an increase in homebuilding.
story continues below
loading...story continues above
“Building homes has become more attractive and profitable during the pandemic due to record-low mortgage rates and red-hot homebuyer demand,” Redfin Lead Economist Taylor Marr said in a statement. “At the same time, many homeowners have opted to stay put and refinance or remodel their existing homes instead of selling them, allowing new-construction homes to take up a larger portion of the market.”
In March, housing starts in the U.S. increased almost 20% month-over-month, hitting the highest level since 2006. But the homebuilding industry has also had to contend with rising lumber prices, recently identified as adding almost $36,000 to new home prices.
In the DC area, 15.8% of single-family homes for sale last quarter were new construction, and there was a 21.2% year-over-year increase in building permits for single-family homes.
The 82 metropolitan areas studied had to have at least 750,000 residents and 50 sales of new single-family homes in the first quarter. The study used MLS and county data to determine the share of new homes on the market, and used the Census Bureau's Building Permits Survey for permit data.
See other articles related to: homebuilding, housing inventory, housing supply, new construction, redfin
This article originally published at https://dc.urbanturf.com/articles/blog/new-houses-everywhere-25-of-houses-on-the-market-are-new/18209.
Most Popular... This Week • Last 30 Days • Ever

Our guide for amateur landlords who don't really know what they're doing.... read »

The Massachusetts Avenue Heights home was previously owned by the former chief execut... read »

A large new apartment and townhouse project has been pitched for the growing pipeline... read »

On Friday, Mayor Muriel Bowser and the Office of the Deputy Mayor for Planning and Ec... read »

In this week's Under Contract, we highlight two homes that found buyers just shortly ... read »
- The Essential Guide to Being an Amateur Landlord in DC
- Washington Spirit Owner Michele Kang Lists DC Home for $14.5 Million
- A Two-Phase, 370-Unit Development Pitched For Columbia Pike Gas Station Site
- Apartments, A Plaza + Dave Chapelle: The Future Plans for 14th and U
- Under Contract: That Didn't Take Long
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro