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Buy Or Sell With James Jestes and eXp Realty

386 315 4744
James@JamesJestes.com

Serving The Greater Daytona Beach Area

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Should You Consider Buying a Newly Built Home?

Should You Consider Buying a Newly Built Home? Simplifying The Market

If you’re thinking about buying a home, you might be focusing on previously owned ones. But with so few houses for sale today, it makes sense to consider all your options, and that includes a home that’s newly built.

The Number of Newly Built Homes Is on the Rise

While there are more houses for sale right now than there were at this time last year, there’s still a historically low number of homes available on the market. One reason for that is years of underbuilding—meaning there haven’t been enough new homes built to keep up with demand.

Should You Consider Buying a Newly Built Home? | Simplifying The Market

The graph above shows how low the production of newly constructed homes has been over the past 14 years. But it also shows another important trend: the number of new homes being built each year is on the rise. As Mark Fleming, Chief Economist at First American, shares, that’s good news for buyers:

“While existing-home inventory remains limited, the silver lining for home buyers is that new-home inventory is on the rise, and a new home at the right price is a pretty good substitute.”

Builder Incentives Can Provide a Boost

While there a growing number of new homes for sale, builders are slowing that pace until they sell more of their current inventory. According to Logan Mohtashami, Lead Analyst at HousingWire:

“The builders have to work off the backlog of homes, but instead of 3%-4% mortgage rates, they’re dealing with 6% plus mortgage rates, which means they have to provide many incentives to make sure those homes sell.”

Many builders are now offering incentives to help buyers purchase these homes. Fleming also explains:

“The National Association of Home Builders reported that nearly two-thirds of builders were offering incentives, including mortgage rate buydowns, paying points for buyers and price reductions, which could entice potential home buyers.”

A builder who’s willing to pay to reduce your mortgage rate could be a game changer. Ksenia Potapov, Economist at First American, puts it this way:

“A one percentage-point decline in mortgage rates has the same impact on affordability as an 11 percent decline in house prices.”

Should You Buy a Brand-New Home?

The best way to decide what type of home to buy is to work with a trusted real estate professional who can help you weigh the pros and cons of each option. They know which homes are available in your local market, and which builders might be offering incentives that make sense for you.

Bottom Line

Even though there aren’t a lot of homes for sale today, new home inventory is on the rise, and many builders are offering incentives. Let’s connect so I can help you weigh the pros and cons of shopping for a new home versus an existing one.


GIVE ME A CALL AND LETS TALK ABOUT YOUR REAL ESTATE NEEDS – JAMES JESTES 386-315-4744

Most Recent MLS Listings Today

580 Rio Vista Avenue Daytona Beach FL 32114
Featured
1 / 69
$799,000
3
BEDS
2
TOTAL BATHS
1,841
SQFT
580 Rio Vista Avenue Daytona Beach, FL 32114
Single Family Residence For Sale
- Active

Embrace the ultimate waterfront lifestyle in this stunning riverfront retreat, offering breathtaking views, deep-water access, and a private dock with a brand-new boat lift. This 3-bed, 2-bath, 1,841 sq. ft. home sits on 100 ft of deep water frontage

Listing courtesy of James Jestes of EXP Realty LLC
3869 Dorsiere Avenue Port Orange FL 32129
Open House Sat, Jun 28, 11 AM
1 / 4
$419,900
3
BEDS
2
TOTAL BATHS
2,261
SQFT
3869 Dorsiere Avenue Port Orange, FL 32129
Single Family Residence For Sale
- Active

If luxury, elegance and lakefront living are top on your list, then you will love this wonderful home located in the highly sought-after Oakbrook subdivision of Port Orange! Freshly painted and ready for its new owners, this pristine property offers

Listing courtesy of Elisabeth Nicol of RE/MAX Signature
10 Cantilever Court Ormond Beach FL 32174
New Listing - 6 hours on site
1 / 40
$539,900
4
BEDS
3
TOTAL BATHS
2,910
SQFT
10 Cantilever Court Ormond Beach, FL 32174
Single Family Residence For Sale
- Active

Discover comfort and style in this immaculate, beautifully maintained home in the desirable community of Hunters Ridge! This spacious two story property sits on a quiet cul-de-sac and offers the perfect blend of privacy, functionality and charm. This

Listing courtesy of Angela Koulouris of Keller Williams Realty Florida Partners
83 Reverie Drive N Palm Coast FL 32137
New Listing - 6 hours on site
1 / 44
$715,000
4
BEDS
3
TOTAL BATHS
3,079
SQFT
83 Reverie Drive N Palm Coast, FL 32137
Single Family Residence For Sale
- Active

Save the time of building and move right in to this practically brand new custom-built home that feels like new! This incredible 4-bedroom plus office, 2.5-bath, 3-car garage home is perfectly positioned on a premier private lake lot in the highly de

Listing courtesy of Rose Roberts of Realty Pros Assured

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Related posts:

  1. Why It May Be Time To Add Newly Built Homes to Your Search
  2. Planning on Buying a Home? Be Sure You Know Your Options.
  3. New Homes May Have the Incentives You’re Looking for Today
  4. Patience Is the Key to Buying a Home This Year

Posted in: Blog, First Time Home Buyers, For Buyers, Move-Up Buyers, New Construction

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James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

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BUY AND SELL REAL ESTATE WITH JAMES JESTES

James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

FEATURED LISTINGS

No Results Found.

SEARCH ALL OF THE GREATER DAYTONA BEACH AREA

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Today’s Real Estate Information

  • 10 Great Homes For Sale In The Greater Daytona Beach Area
  • How To Get Your House Ready To Sell in 2025
  • Don’t Miss Out on the Growing Number of Down Payment Assistance Programs
  • What’s Behind Today’s Mortgage Rate Volatility?
  • Is Wall Street Really Buying All the Homes?

James Jestes, Your new favorite Realtor.

Hello my name is James Jestes and I am a Broker Associate with eXp Realty.  I am dedicated to helping you find your perfect new home. I’m a no hassle, no pressure agent here to help you accomplish your real estate goals. Please reach out to me and let me know how I can help you purchase or sell your home.

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James Jestes
eXp Realty
386-315-4744
James@JamesJestes.com

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