As shown above, there have not been very many new single family home sales in the MLS over the past few years.  That said, there have certainly been new single family homes built that are not reflected in these numbers -- for example, custom homes built by builders on customers' building lots.

Why aren't more new single family spec homes being built?  And when will we see them being built again? 

The Why -- as I was commenting to a builder yesterday, the continued availability of reasonably priced re-sale homes is making it tough for buyers to decide to build a custom home.

The When -- we need to see appreciation of home values, bringing up the prices of these re-sale homes, in order for new homes to be able to be priced competitively enough to more frequently be the chosen option for buyers.