We all know that new construction has made steady progress the last couple years, but what’s its share of home sales?
As we reported last week, new home sales remain historically low. Though they did hit their highest mark in five years in January, the ratio between existing-home sales (which have led the recovery) and new home sales is currently 10:1, which is far above the normal ratio of 6:1.
Still, eye-popping as those numbers may be, they are not consistent across all 50 states, a fact that new research from CoreLogic plainly demonstrates. See our graph below to see what states saw the largest share of new home sales in 2013: