While the supply of apartments for sale is still low today, the number of newly built apartments is increasing. If you're ready to sell but held back because you weren't sure about finding a house to move into, newly built houses and houses under construction may be the options you've been waiting for.
With more new homes coming to the market, this means you’ll have more options to choose from if you’re ready to buy. Of course, if you do consider a newly built home, you’ll want to keep timing in mind. The supply shown in the graph above includes homes at various stages of the construction process – some are near completion while others may be months away.
According to Robert Dietz, Chief Economist and Senior VP for Economics and Housing Policy for the National Association of Home Builders (NAHB):
“28% of new home inventory consists of homes that have not started construction, compared to 21% a year ago.”
Buying a home near completion is great if you’re ready to move. Alternatively, a home that has yet to break ground might benefit you if you’re ready to sell and you aren’t on a strict timeline. You’ll have an even greater opportunity to design your future home to suit your needs. No matter what, your trusted real estate advisor can help you find a home that works for you.
If you want to take advantage of today’s sellers’ market, but you’re not sure if you’ll be able to find a home to move into, consider a newly built home. Lean on your trusted real estate advisor to guide you through the sale of your house and discuss your home buying options.
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