Where Will You Go If You Sell? Newly Built Homes Might Be the Answer.

Do you want to sell your house, but hesitate because you’re worried you won’t be able to find your next home in today’s market? You're not alone, but there’s some good news that may ease your worries. New home construction is up and is becoming an increasingly significant part of the housing inventory.

That means when you go to put your house on the market this summer, considering newly built homes is crucial for expanding the options you’ll have for your next move.

Near-Record Percentage of New Home Inventory

Newly built homes today make up a near-record percentage of the total number of homes available for sale (see graph below):

In fact, as the data shows, newly built homes now make up 31% of the total for-sale inventory. Over the past couple of decades, newly built homes made up an average of only around 13% of total housing inventory from 1983 to 2019.

That means the percentage of the total available homes that are newly built is over two times higher than the norm.

Why This Matters to You 

Overall, the supply of homes for sale is still low. And when there’s limited supply, it’s crucial to explore all of your available choices. New-home construction has emerged as a game changer with increasing inventory. Not to mention, recent data shows it’s gaining even more momentum as more newly built homes are underway and will be coming to the market in the months ahead.

Robert Dietz, Chief Economist at the National Association of Home Builders (NAHB), highlights the importance of newly built homes for those looking to buy in today’s housing market. Dietz states:

"With limited available housing inventory, new construction will continue to be a significant part of prospective buyers' search in the quarters ahead."

Don’t overlook this growing market segment and risk missing out on great opportunities to find your ideal home. Since new home construction accounts for roughly 31% of total for sale inventory, you could be cutting nearly one in three options from your search if you don’t consider newly built homes. 

If you’re looking to make a move, a local real estate agent can help you sell your current house and explore newly built options in your area. They have the expertise you need to handle both sides of the process so you can move out of your current house and into your brand-new dream home.

Bottom Line

Now’s the time to sell your house and take advantage of the momentum that’s building in new home construction. Let’s connect so you have a guide throughout the selling and buying process. Together, we can make your transition to a newly built home a reality.

Information provided by KCM

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

🏠 First-Time Homebuyer Information by R/E Brokerages of America Real Estate Services 🏠

Congratulations on taking the exciting step towards becoming a first-time homebuyer! At R/E Brokerages of America Real Estate Services, we understand that the journey to homeownership can be both thrilling and overwhelming. That's why we're here to provide you with valuable information and guidance to make your homebuying experience a success. 🎉

1️⃣ Determine Your Budget: Before you start searching for your dream home, it's essential to establish a budget. Take into account your income, expenses, and savings to determine a comfortable price range for your future home. Consider getting pre-approved for a mortgage to understand your borrowing capacity and make your offers more competitive.

2️⃣ Research and Define Your Needs: Think about the features and specifications that are important to you in a home. Consider factors such as location, size, number of bedrooms and bathrooms, amenities, proximity to schools or workplaces, and any specific requirements or preferences you have in mind.

3️⃣ Engage a Knowledgeable Real Estate Agent: Working with a professional real estate agent is invaluable during the homebuying process. Our experienced agents at R/E Brokerages of America Real Estate Services will guide you through the market, help you find suitable properties, negotiate offers, and provide expert advice at every step.

4️⃣ Explore Financing Options: Understanding the various financing options available to you is crucial. Our team can connect you with trusted loan officers who will explain mortgage types, down payment requirements, interest rates, and other financial considerations. They will help you select the financing option that aligns with your goals and financial situation.

5️⃣ Attend Homebuyer Education and Seminars: Take advantage of educational resources and seminars tailored for first-time homebuyers. These events provide valuable insights into the homebuying process, financing options, and legal aspects. At R/E Brokerages of America Real Estate Services, we organize informative seminars to equip you with the knowledge you need to make informed decisions.

6️⃣ Conduct Thorough Home Inspections: Once you've found a potential home, it's crucial to conduct thorough inspections to uncover any hidden issues. We can recommend reliable home inspectors who will assess the property's condition, identify potential problems, and provide you with a comprehensive report.

7️⃣ Make an Informed Decision: When you find the perfect home that meets your needs, consider all the relevant information and consult with your real estate agent before making an offer. We'll help you navigate negotiations, provide market insights, and ensure you make an informed decision that aligns with your budget and goals.

At R/E Brokerages of America Real Estate Services, we are dedicated to supporting you throughout your homebuying journey. Our commitment to excellence, market knowledge, and personalized service sets us apart. Reach out to our team at 804.293.4088 or info@rebrokerages.com to get started on your exciting path to homeownership!

Remember, your dream home is within reach, and we're here to make it a reality. 🏡💙

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