Dive Brief:

• CoreLogic says the supply of foreclosed homes on the market is dwindling – 47,000 nationally this May compared with 52,000 in May 2013 – and real estate firm Trulia says that becomes an advantage for home builders.
• Trulia says that its data show that 41% of home buyers would rather than purchase new construction than an existing home, and that 21% feel the reverse, leaving another 38% of the market indifferent and, presumably, receptive to persuasion.
• With the bargain deals on foreclosed homes becoming less of a factor, builders should have a sales advantage.

Dive Insight:

Trulia advises owners of existing homes who have been waiting to sell might want to get hopping while the home-building market appears to be flat for a time. Buyers told Trulia that several factors go into the new-home bias, with the three cited by more than half the people questioned being: 1) a chance to get modern features, 2) a chance to customize their house during construction and 3) having lower maintenance and repair costs.