Pre-construction plethora

Pre-construction listings at all-time high

The number of houses for sale even before they're built has jumped 47% the past 12 months.

The Census Bureau says that 88,000 houses were for sale but not yet started in April, the latest data available, vs. 60,000 a year earlier and 40,000 five years ago.

The appetite for new homes is strong: There is about a 4.1-month supply of new houses for sale, up just 0.1% from 12 months earlier. That's low.

Unbuilt homes sell like crazy [USA Today]

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