Buyers turn to newly built homes due to the low availability of existing homes

In Q2, the demand for new homes recovered after falling steadily for the previous 5 quarters as 21% of prospective buyers turned to newly built homes, which is an increase of 19% compared to Q1.
The reason for buyers' interest in new homes for sale is due to the tight supply of existing homes and growth in the availability of new homes for sale.
The share of buyers that are interested in buying the newly built home grew from 24% in Q1 to 30% in Q2 while in other regions, the share declined.

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