Homebuilders Pull Back as Supply of Existing Homes Rebounds Nationwide

The share of newly built single-family homes on the market nationwide dropped to its lowest level in four years in August, according to a new report from real estate brokerage Redfin .

Newly constructed homes accounted for 26.8% of all single-family listings during the month, down from 28.2% a year earlier and 30.6% two years earlier. Although that figure has declined, new builds still represent a far greater portion of available housing than before the pandemic, when they typically made up between 15% and 20% of listings in 2018 and 2019. The share surged to nearly 35% in 2022 amid record-breaking homebuying demand.

The smaller share of new construction reflects a rebound in the supply of

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