We all know the new-home construction market is tepid. Now a recent analysis by Hanley Wood Market Intelligence, a sister company to ProSales, shows a big reason why: For the past year and a half, banks have sold more homes than builders have. As of June, on an annualized figures basis, new homes accounted for only 11% of all home sales, while sales of REO (real estate owned–typically, a foreclosed house) figured in 19.5% of all sales. Expect this trend to continue, as there were 1.65 million foreclosure filings nationwide in the first half of this year, the RealtyTrac information service says. One of every 78 U.S. homes got at least one foreclosure filing in the first half of the year.