According to the latest What Home Buyers Really Want, 60% of home buyers would prefer a newly-built home over an existing home. In other words, all else equal, their first preference would be to purchase a new home.
Looking at historical data shows a clear shift in preferences towards new construction in 2020. The share of buyers who would have preferred to buy a new home last year (60%) was six points higher than in 2018 (54%) and the highest in this series since 2007 (63%).
Read more at EyeOnHousing.