Near-Record Percentage of New Home Inventory

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Real Estate

Do you want to sell your home but are hesitating because you're concerned the current housing market won't allow you to find your new place? Although you are not alone, there is some good news that could assuage your fears. The number of new homes being built has increased, and their importance to the housing supply is growing.

This implies that taking into account freshly built homes is essential for enhancing the alternatives you'll have for your future move when you decide to list your property this summer.

Near-Record Percentage of New Home Inventory
Today, the proportion of newly constructed homes in the overall number of residences for sale is almost at a record high.
In fact, as seen by the data, newly constructed homes now account for 31% of the whole for-sale inventory. From 1983 to 2019, the average percentage of newly constructed residences in the housing stock was just about 13%.
That indicates that the proportion of total dwellings that are freshly built is more than twice as high as the average.
Why This Matters to You
Overall, there are relatively few houses available for purchase. Additionally, it's critical to consider all of your options when there is a limited quantity. As inventory rises, new house building has become a game-changer. Not to add, according to current statistics, it's getting even more traction as more freshly constructed houses are being built and will be put on the market in the coming months.

The National Association of Home Builders (NAHB) Chief Economist, Robert Dietz, emphasizes the value of newly constructed houses for buyers in the current housing market. Dietz explains:

"With limited available housing inventory, new construction will continue to be a significant part of prospective buyers' search in the quarters ahead."
Don't give up the chance to locate your dream house by ignoring this expanding market area. If you don't take into consideration recently built houses, you may be excluding approximately one-third of the available possibilities from your search as new home development makes up around 31% of the overall for-sale inventory.

A neighborhood real estate agent may assist you in selling your present home and looking at recently constructed homes in your area if you're wanting to move. They have the know-how you require to manage both sides of the procedure, allowing you to leave your existing home and move into your new dream home.
Bottom Line
The momentum that is growing in new home construction is the ideal time to sell your property. Let's talk so you have someone to help you through the purchasing and selling processes. We can make your move to a newly constructed house a reality if we work together.