Monica Wiggers’ Post

Plot twist: You're looking to buy a home and realize new construction could help you save in a big way. According to the latest data drop from the Census and the National Association of Realtors (NAR), the median sales price for newly built homes is currently lower than the median sales price for existing homes today. 👀 ↓ 💵 The quick breakdown: • BUILDERS are focused on building what they can sell. And right now, the market is demanding smaller, more affordable homes. • HOWEVER, there are a ton of newly built homes already on the market, so builders are motivated to make sure they’re selling what they’ve got available before adding more. • WHICH MEANS, builders are offering a range of incentives to help move inventory, including competitive mortgage rates, covering closing costs, free finish upgrades, and more. Buying a newly built home just might be the perfect fit for your needs and your budget. What do you think? Would you consider buying new?

Plot twist: You're looking to buy a home and realize new construction could help you save in a big way. According to the latest data drop from the Census and the National Association of Realtors (NAR), the median sales price for newly built homes is currently lower than the median sales price for existing homes today. 👀 ↓ 💵 The quick breakdown: • BUILDERS are focused on building what they can sell. And right now, the market is demanding smaller, more affordable homes. • HOWEVER, there are a ton of newly built homes already on the market, so builders are motivated to make sure they’re selling what they’ve got available before adding more. • WHICH MEANS, builders are offering a range of incentives to help move inventory, including competitive mortgage rates, covering closing costs, free finish upgrades, and more. Buying a newly built home just might be the perfect fit for your needs and your budget. What do you think? Would you consider buying new? 𝐁𝐮𝐲 𝐰𝐢𝐭𝐡 𝐁𝐫𝐢 • 𝐋𝐢𝐬𝐭 𝐰/ 𝐋𝐨𝐦𝐛𝐚𝐫𝐝𝐨 914.907.9173 [email protected] LET'S PLAN YOUR NEXT MOVE®

Thinking about buying a home? Surprise! New construction might be more affordable than you think. While it's often assumed that existing homes are the more budget-friendly option, current market trends are turning that idea on its head. Here are two key reasons working with your agent to look into new home construction could help you find a more budget-friendly option. Reason 1: Lower Median Prices for Newly Built Homes The median sales price for newly built homes is lower than the median sales price for existing homes today. This might seem surprising, but it’s true according to the latest data from the Census and the National Association of Realtors (NAR): Reason 2: Attractive Incentives from Home Builders One of the most appealing incentives right now is how builders are able to offer competitive mortgage rates. They may also provide other incentives, such as covering closing costs, or offering free upgrades. With lower median prices and enticing incentives offered by builders, now could be the perfect time to explore new home construction. Interested in learning more? Let's chat! #newhome #homebuying #realestate #newconstruction #affordablehousing

There are two types of homes on the market: new and existing. If you've never considered a new construction home, here are 2 reasons why you may want to reconsider: 🏡 Adding newly built homes to your search gives you more options. From 1983 to 2019 (the last normal year in the market), newly built homes made up only 13% of the total inventory of homes for sale. But today that number is said to have climbed to over 33%. 🏡 Newly built homes may be more affordable than you may think. The price gap between new and existing homes is shrinking and some builders are even offering price cuts and mortgage rate buy-downs right now to sweeten the deal. Just know that buying a newly built home isn’t the same as buying an existing one. So, partner with a local agent (👋) who knows the market, builder reputations, and what to look for in those contracts so you have an expert on your side to help you explore this option.

There are two types of homes on the market: new and existing. If you've never considered a new construction home, here are 2 reasons why you may want to reconsider: 🏡 Adding newly built homes to your search gives you more options. From 1983 to 2019 (the last normal year in the market), newly built homes made up only 13% of the total inventory of homes for sale. But today that number is said to have climbed to over 33%. 🏡 Newly built homes may be more affordable than you may think. The price gap between new and existing homes is shrinking and some builders are even offering price cuts and mortgage rate buy-downs right now to sweeten the deal. Just know that buying a newly built home isn’t the same as buying an existing one. So, partner with a local agent (👋) who knows the market, builder reputations, and what to look for in those contracts so you have an expert on your side to help you explore this option.

THERE’S MORE NEW HOME CONSTRUCTION   If you still don't see an existing home you like, another big opportunity lies in the rise of new home construction. Builders have worked to increase the supply of newly built homes this year. And they've turned their attention to crafting smaller, more affordable homes based on what's most needed in today's market. This helps address the long-standing issue of housing undersupply throughout the country, and those smaller homes also offset some of the affordability challenges you're feeling today.   According to data from the Census and NAR, one in three homes on the market is a newly built home.   This means, that if you didn't previously look at newly built homes as part of your search, you may have been cutting your pool of options by a third. Not to mention, some builders are also offering incentives like buying down mortgage rates to make it easier for buyers to get a home that fits their budget.   Also, as your trusted advisor, I have a working knowledge of the reputable builders in our area and the products they offer at their various communities. Further, I can help you best negotiate your terms, price, and amenities on a new construction home. Larissa with London | 📲 (209) 658-3260 https://lnkd.in/gFg7UsjX   #realestatemaniac #iloverealestate #weeklyupdate #keepingyouintheknow

Builders Are Building Smaller Homes Affordability is a challenge in today's housing market, leading many to consider smaller homes. The good news? Builders are focusing on constructing these smaller homes, offering more options for budget-conscious buyers. During the pandemic, the demand was for larger homes, but as mortgage rates rise and affordability becomes a concern, the trend is shifting towards smaller homes. Builders aim to meet market demand, and right now, that's smaller, more affordable homes. If you're struggling to find a home within your budget, consider new, smaller builds. They often come with incentives like price reductions or mortgage rate buy-downs. Plus, you'll enjoy a brand-new home with fewer maintenance needs and the latest features. Let's connect to explore the options in our area. -Steve & Sandra And as always, if you have any additional real estate questions, feel free to call/text us any time! We're always here to help! Brenner | Hill Real Estate Windermere Real Estate /Northwest Steve (c) 206-769-9577 | [email protected] Sandra (c) 206-271-7100 | [email protected] Brennerhill.com Equal Housing Opportunity #BrennerHill #BrennerHillRealEstate #WindermereRealEstate #RealEstate #MarketUpdate #RealEstateTrends #SeattleRealEstate #SnohomishRealEstate #PropertyInsights #HousingMarket #RealEstateListings #RealEstateNews #NWSeattle #SWSnohomish

In the immediate market, larger builders have been able to be more aggressive with incentive usage when needed, including buying down the mortgage interest rates well below what a smaller builder is willing and able to do. Larger builders have also been able to be more aggressive in their land acquisition, intending to increase their community count both this year and next year. In the land market, the bigger builders have [priced] out some of the smaller builders. Ali Wolf Zonda https://lnkd.in/gefhphPE

🏡 New Hampshire Real Estate Market Update – December 2024 🏡 The New Hampshire housing market is ending the year strong! The average home price sits at $478,955, a 6.2% increase compared to last year. 🏠 Homes are flying off the market, typically going pending in just 11 days—a clear sign of continued buyer demand. 📈 (Source: Zillow) On the financing side, 30-year fixed mortgage rates have eased to 6.69%, making this a great window of opportunity for buyers looking to lock in a favorable rate. 💵 (Source: AP News) As we head into 2025, experts forecast mortgage rates will hold steady around 6.5%, and home prices are expected to see modest growth. The outlook is bright for both buyers and sellers in the Granite State! 🌄 If you're thinking of buying or selling, let's talk about how to make the most of this dynamic market. 📲 Austin Sickler – Your Local New Hampshire Realtor 📞 720.635.7772 📧 [email protected] 🔑 Let's make your next move the right one! 🔑 #NewHampshireRealEstate #MarketUpdate #HomeBuying #HomeSelling #NHRealtor #GraniteStateLiving #DreamHome #HousingMarket #RealEstateTrends #InvestInRealEstate

Buying a home this spring? You’re probably navigating today’s affordability challenges and dealing with the limited number of homes for sale. But, what if there was a solution that could help with both? If you’re having a hard time finding a home you love, and mortgage rates are putting pressure on your budget, it may be time to look at newly built homes. Here’s why. New Home Construction Is an Inventory Bright Spot When looking for a home, you can choose between existing homes (those that are already built and previously owned) and newly constructed ones. While the number of existing homes for sale has increased this year, there are still fewer available than there were in more typical years in the housing market, like back in 2018 or 2019. So, if you’re looking to expand your pool of options even more, turning to newly built homes can help. As Danielle Hale, Chief Economist at Realtor.com, explains: “The shortage of existing homes For Sale has opened up the possibility of new-home construction to more buyers who may not have once considered it.” And the good news is, there are more newly built homes to pick from right now. Read the full blog post: 👉 https://loom.ly/EVfAbZ4 Justin Winter & Assoc. | Forbes Global Properties (864)481-4444 [email protected]