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New home construction has soared to its highest level since the housing market crash

Data: Census Bureau; Chart: Axios Visuals

The number of new homesunder construction has soared — to levels not seen since the housing market crash 14 years ago.

Why it matters: Home prices have been surging as the demand for houses has outpaced supply. Homebuilders are doing what they can to keep up, but supply chain bottlenecks have led some to turn away buyers as they try to catch up.

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