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Homeowners Don’t Want to Sell, So the Market for Brand-New Homes Is Booming

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With owners of existing single-family homes reluctant to sell, sales of newly built homes are booming

LEHI, Utah—After mortgage rates shot up last year, Ivory Homes, one of Utah’s largest builders, suddenly had few buyers for the hundreds of homes it had under construction.

So Clark Ivory, the chief executive, laid off 9% of his staff, and by January he had slashed construction by nearly 80% from its 2022 peak.Continue reading your article with

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