Lately, more homebuyers are opting for newly built homes. It’s not just about having the newest technology or modern layouts—many are finding they can actually get a better deal by choosing new construction.

Builders are currently offering some great incentives, and buyers are taking full advantage. In fact, new home sales have reached their highest point in more than two years (see graph below).

Why Builders Are Throwing in Perks

Right now, there are more newly built homes available than we've seen in years. For buyers, that’s great news because it means you have plenty of options to pick from. Plus, builders are eager to sell what they have before starting on new projects, which can work in your favor when negotiating.

That’s why more buyers are able to take advantage of incentives like these:

• Mortgage rate buydowns are helping ease monthly costs.

• Price adjustments are making homes more affordable.

• And some communities are offering closing cost assistance or upgrades to attract buyers.

The great news is that many builders are currently offering perks. According to Zonda, almost 6 out of 10 new home communities are providing incentives for homes that are still being built. Even more—over 75%—are offering deals on quick move-in homes, which are already built and ready for you to move in right away. Real estate analyst Nick Gerli points out that this trend is becoming quite common in the market.

““. . . 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.”
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— Nick Gerli

Here’s the key point: builders really want to sell right now. That means you might be able to get a better price and even a lower mortgage rate if you choose a new home. If you’ve been worried about high prices, this could be a great chance to get back in the market.

You Have More Brand-New Options Than Normal

Right now, there are more new homes available than you’ve seen in years, which means you have a lot more choices. Whether you want a move-in-ready place or prefer to customize a new build, there’s likely more available nearby than you might think.

While new home listings are increasing across the country, some areas offer an even greater opportunity to find better prices. Census data highlights which regions are experiencing the largest rise in newly built homes. Here’s a quick overview of those hot spots:

There are more new homes available in the South and West, so builders in these areas might be more open to negotiating.

Keep in mind, this chance won’t be around forever. Builders are starting to slow down how many homes they’re putting on the market. They’re doing this to avoid having too many homes sitting unsold. As Robert Dietz, Chief Economist at the National Association of Home Builders (NAHB), points out:

““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.”
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— Robert Dietz, Chief Economist at the National Association of Home Builders (NAHB)

Looking ahead, there might be fewer new homes coming onto the market since builders are likely to concentrate on selling existing inventory before starting new projects. That means right now could be the best time in years to buy a new home.

Bottom Line

Builders are dropping prices and might even help you get a lower monthly payment, so that's definitely worth paying attention to.

If you want to check out how busy builders are in your target area and what deals they have, here’s a smart step: before you start looking, let’s connect.

That way, you’ll have your own agent to help you weigh incentives from different builders and negotiate for you, ensuring you get the best deal possible.