【Zillow】Bought Before They're Built: Why a Surge in Advance New Home Purchases Bodes Well for the Market

• 38.5% of new-construction homes purchased in October had yet to begin construction, up 10 percentage points from October 2019 and the highest level since 2005.
• Advanced home purchases create a firm backlog of future construction activity and consumer spending, and may point to more inventory to come in future months as buyers move in and sell their current residence.

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