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US developers tap first-time buyer market

They are selling more entry-level homes that have less built-in features at prices that can be 30% lower

New homes in the US sold at a slower pace than projected in November. Sales rose 4.3 per cent to a 490,000 annualised pace following a 470,000 rate in October.


SURGING prices have almost closed off the new-home market to young buyers such as Brandon and Quincey Lindemann. But the Denver-area couple has found a way in.

The Lindemanns paid US$350,000 in October for a three-bedroom house at Tri Pointe Group Inc's Terrain, a new Castle