New-Home Inventory Shrinks to Record Lows

Inventory of new homes on the market shrank to its lowest point on record in January, marking a 5.6-month supply at the current sales pace. With fewer homes available, the price of new homes increased slightly last month. The median price for a new home ticked up slightly at 0.3 percent to $217,100, which is the highest level since October. New-home sales were up 3.5 percent compared to the same time last year.
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– Realtor Magazine

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