In today's housing market, the inventory of existing homes is tight. considering a newly built home for your next move - Watson Group Blog

Our Blog


Considering a newly built home for your next move?

Considering a newly built home for your next move?

Let's dive into two compelling reasons why it might just be the perfect fit for you:

  1. Expanded Options: In today's housing market, the inventory of existing homes is tight. However, newly built homes are becoming a larger part of the available options. Data from reputable sources like the Census and the National Association of Realtors (NAR) indicates a significant increase in the proportion of newly built homes in the market. From just 13% in previous years, they now comprise over 33% of available inventory. This surge presents a golden opportunity for homebuyers like you, offering a broader spectrum of choices to explore during your search.

  1. Surprising Affordability: The notion that newly built homes are beyond your budget may need revisiting. Builders are attuned to the evolving demands of the market, focusing on constructing smaller, more affordable homes. Consequently, the price gap between new and existing homes is narrowing. In some regions, the cost to build versus buy is becoming comparable. CNBC notes that while new builds may still command slightly higher prices, the gap has significantly diminished. Moreover, builders are rolling out enticing incentives such as price cuts and mortgage rate buy-downs, further enhancing the affordability factor.

Intrigued by the prospect of a newly built home? It's crucial to recognize that purchasing one differs from buying an existing property. Partnering with a knowledgeable local agent can provide invaluable insights into the market, builder reputations, and the intricacies of builder contracts. With their expertise by your side, you can navigate the realm of newly built homes confidently and effectively.

Ready to explore what newly built homes have to offer in your area? Let's connect and embark on this exciting journey together. Additionally, expanding your search to include neighboring towns can unlock even more possibilities. Let's discuss how broadening your scope could lead you to your dream home.