Historically, new houses constituted about 15% of all homes sold. While that percentage dropped to a low of 5.8% in 7/11, the worst of the Housing Bust, it’s almost steadily risen since. In 12/22 it hit an amazing 34.9% and in 3/23 was 32.8%, the highest March outside of 3/22’s 33.4%. While single-family starts are painfully anemic, completions are stellar due to resolved supply-chain delays that held up previous deliveries.