That way, you’ll have someone on your side to help you compare offers from different builders and handle the negotiations — so you can be sure you’re getting the best deal possible.
There’s a growing trend in real estate right now — more and more buyers are going for newly built homes. And it’s not just because they love the modern designs or high-tech features. It’s often because they can actually get a better deal.
Builders are offering some pretty great incentives right now, and buyers are definitely taking notice. In fact, new home sales have just reached their highest level in more than two years (check out the graph below!).
Why Builders Are Throwing in Perks
There are more newly built homes on the market right now than we’ve seen in years — and that’s great news for buyers. It means you’ve got more options to choose from, and builders are extra motivated to sell what’s already available before starting new projects.
That’s exactly why so many buyers are snagging deals and incentives like these right now:
- Mortgage rate buydowns that help lower your monthly payment
- Price reductions that make owning a home more affordable
- Assistance with closing costs — and in some neighborhoods, even free upgrades
The best part? Tons of builders are offering these kinds of perks right now. According to Zonda, almost 6 out of 10 new home communities are giving incentives on homes that are still being built. And for quick move-ins — homes that are already finished and ready for you — over 75% of builders are doing the same. Real estate analyst Nick Gerli puts it this way:
“. . . builders are adjusting to the realities of the current housing market. They’ve cut prices 13 percent from peak, and are giving generous mortgage rate buydowns on top of that.”
Here’s the bottom line: builders are ready to make deals. That means you could lock in a lower price — and maybe even a lower mortgage rate — if you go for a new home. So if you’ve been feeling priced out lately, these incentives might just be your ticket back into the market.
You Have More Brand-New Options Than Normal
With more new homes on the market than we’ve seen in a long time, you’ve got more choices than ever. Whether you want something move-in ready or prefer to customize a build from the ground up, there’s probably more out there near you than you think.
Even though there are more new homes for sale nationwide, some areas are offering even better opportunities to find a great deal. According to Census data, here’s a quick look at the regions seeing the biggest surge in newly built homes (check out the graph below):
The South and West are seeing the biggest increase in new homes right now, which means builders in those areas may be even more open to negotiating.
Keep in mind, this window of opportunity won’t be around forever. Recent data shows builders are starting to slow down on new construction — mostly to keep from having too many homes on the market. As Robert Dietz, Chief Economist at the National Association of Home Builders (NAHB), explains:
“The slowdown in single-family home building has narrowed the home building pipeline. There are currently 621,000 single-family homes under construction, down 1% in July and 3.7% lower than a year ago. This is the lowest level since early 2021 as builders pull back on supply.”
Looking ahead, we might start seeing fewer new homes available as builders shift their focus to selling what’s already completed before starting new projects. So, if you’ve been thinking about buying a new home, now could be one of the best times to do it.
Bottom Line
With builders offering price cuts — and in some cases even helping you lower your monthly payment — this is definitely an opportunity worth paying attention to.
If you want to find out how active builders are in your area and what kinds of deals they’re offering, here’s a smart first step — let’s connect before you start your search.
