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researcher59

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Re: cliffvb post# 108145

Friday, 10/27/2023 1:14:32 PM

Friday, October 27, 2023 1:14:32 PM

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New construction home sales are at all time record highs as a percentage of overall sales (around 30%) .... ironically high mortgage rates are a big reason for the very low supply of existing home sales ..... homeowners are reluctant to give up their low rate mortgages and take on a high rate mortgage which they are forced to do when they sell a home to upgrade to another home. Mortgages cannot be rolled over to another house.

So the low supply of existing homes for sale has been a boon for the homebuilders -

https://www.nar.realtor/magazine/real-estate-news/new-construction-makes-up-record-share-of-inventory

MHO, CCS, TOL
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