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\nAre you putting off your plans to sell<\/a> because you\u2019re worried you won\u2019t be able to find a home you like when you move? If so, it may be time to consider a newly built home and the benefits that come with one. Here\u2019s why.<\/p>\n Newly built homes are becoming an increasingly significant part of today\u2019s housing inventory. According to the most recent report from the National Association of Home Builders<\/em><\/a> (NAHB):<\/p>\n \u201cNewly built homes available for sale accounted for 31% of total homes available for sale in November, compared to an approximate 12% historical average.\u201d<\/em><\/p><\/blockquote>\n That means the percentage of the total homes available to buy that are newly built is well over two times higher than the norm. <\/strong>And even more new homes are on the way. <\/p>\n Recent\u00a0data<\/a> from the Census<\/em> shows there\u2019s been an uptick in both housing starts (where builders break ground on more new homes) and housing completions (homes where construction just wrapped). <\/p>\n And while some people may worry builders are building too many homes, that isn\u2019t a concern \u2013 if anything, the recent increase is really good news. As Lawrence Yun, Chief Economist at the National Association of Realtors<\/em> (NAR), explains<\/a>:<\/p>\n \u201cEven more home building will be needed with the housing shortage persisting in most markets . . . <\/em>Another 30% rise in home construction can easily be absorbed in the marketplace<\/em><\/strong> . . .\u201d<\/em><\/p><\/blockquote>\n Since the supply of existing homes for sale<\/a> is still low right now, the increase of new-home construction can be a game changer because it gives you more options for your search. <\/p>\n Picture yourself in a home that\u2019s new from the ground up: new appliances, fresh paint, fewer maintenance needs because everything is new, and so much more. Doesn\u2019t that sound nice? <\/p>\n And it may be more within reach than you ever imagined. In addition, some builders are offering things like mortgage rate buy-downs for homebuyers right now. This can help offset today\u2019s affordability challenges while also getting you into your dream home. In a recent article, Patrick Duffy, Senior Real Estate Economist at U.S. News, <\/em>explains<\/a>:<\/p>\n \u201cBuilders have been using mortgage interest rate buydowns for many years as a sales incentive whenever interest rates are relatively high, . . .<\/em>Today more builders are offering rate buydowns for the entirety of the loan, allowing buyers to finance more home for the same payment amount<\/em><\/strong>.\u201d<\/em><\/p><\/blockquote>\n Just remember, the process of buying from a builder is different from buying from a home seller, so it\u2019s important to partner with a trusted real estate agent<\/a> who knows the local market. They\u2019ll be your go-to resource for coordinating with the builder, reviewing contracts, and more.<\/p>\nNear-Record Percentage of New Home Inventory<\/strong><\/h4>\n
How This Helps You\u00a0<\/strong><\/h4>\n
Bottom Line<\/h3>\n