Builders Bump Up Thanks to Drop in Existing Home Supply
First-time home buyers, who usually make up 40% of the market, are still down at just 31%. So add up first timers and owner-occupants using a mortgage, and that is where you get the jump in demand for new construction. Home builders are clearly seeing this, with many of the big public companies seeing huge jumps in net new orders.
--Written by Diana Olick at CNBC
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