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Why You May Want To Seriously Consider a Newly Built Home

Are your plans to sell on hold because finding the perfect home seems like a daunting task? It might be time to shift your focus towards the array of benefits offered by newly built homes. In this blog, we’ll explore why you should seriously consider a newly built home and how it could be the key to unlocking your dream home.

The Rise of New Home Inventory: Newly built homes are playing an increasingly significant role in today’s housing market. According to the latest report from the National Association of Home Builders (NAHB), newly built homes for sale accounted for 31% of the total homes available in November, a stark contrast to the approximate 12% historical average. This surge in new home construction is not only substantial but also a positive development for prospective buyers.

Recent Census data indicates an uptick in both housing starts and completions, suggesting a growing trend in new home availability. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), reassures that the increase is good news, stating, “Another 30% rise in home construction can easily be absorbed in the marketplace” due to the persistent housing shortage in most markets.

How This Benefits You: With the current scarcity of existing homes for sale, the influx of new-home construction presents a game-changing opportunity for homebuyers. Imagine stepping into a home that’s brand new, from the ground up – new appliances, fresh paint, minimal maintenance needs, and more. This scenario becomes even more appealing considering that some builders are offering mortgage rate buy-downs as an incentive for homebuyers. Patrick Duffy, Senior Real Estate Economist at U.S. News, notes, “Builders have been using mortgage interest rate buydowns for many years as a sales incentive,” and today, more builders are extending this benefit for the entire loan duration.

Partnering with a Trusted Real Estate Agent: While the prospect of a newly built home is exciting, the process differs from traditional home buying. It’s crucial to collaborate with a trusted local real estate agent who understands the market. Your agent will guide you through coordinating with the builder, reviewing contracts, and ensuring a smooth transaction.

Bottom Line: If you’re eager to sell and move but struggling to find your ideal home, let’s connect. As your local expert, I can help you explore all your options, including the newly built homes available in our area. Your dream home might be closer than you think, waiting to be discovered in the flourishing landscape of new home construction. 🏡✨

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