Should you Consider Selling, To Buy New Construction on The Main Line? Let’s explore why this path could be the game-changer you’ve been waiting for.
A Surge in New Home Inventory:
Newly built homes are becoming a pivotal element in the current housing market. According to the latest report from the National Association of Home Builders (NAHB), newly constructed homes for sale constituted a remarkable 31% of the total homes available for sale in November. It is important to note however, that you need to have a realtor confirm the best new constructions in your area.
The good news is more new homes are on the horizon. Recent data from the Census reveals an increase in both housing starts and completions, indicating a promising trend in the construction of new homes. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), highlights, the increase in home construction is a positive development, and the market can easily absorb another 30% rise in home construction, addressing the persisting housing shortage in most markets.
The supply of existing homes on The Main Line is still relatively low and the surge in new-home construction presents an advantage for homebuyers. Making this dream a reality may be more achievable than you think since builders are offering many incentives, such as mortgage rate buy-downs for homebuyers, that can make it more affordable in today’s market. This can ease the burden of affordability challenges while making your dream home a feasible reality.
Navigating the process of buying from a builder requires a different approach than purchasing from a traditional seller. This is where we come in. If you are looking to purchase new construction, you should have a realtor representing your interests as a buyer. It is a very exciting option to build from the ground up and we can take this next step together. I can be your local expert.
Read more about new homes here!
