Are you hoping to find a better price on a home or a more affordable mortgage rate? You might be surprised to learn that newly built homes could be the opportunity you’ve been waiting for. While many buyers are focused on existing homes, new construction properties offer some of the most promising advantages in today’s real estate landscape. Here’s why they might be the perfect fit for you.

Right now, there’s a growing number of brand-new homes available. According to the latest data from the Census and the National Association of Realtors (NAR), approximately 1 in 5 homes on the market is a new construction. That means if you’re not including newly built homes in your search, you could be overlooking a significant portion of available inventory—and potentially missing out on the perfect property.

With a larger supply of new homes, builders are more motivated than ever to connect with prospective buyers. This competitive environment creates a unique opportunity for homebuyers, as many builders are taking proactive steps to make their homes more attractive.

Builders Are Offering Competitive Pricing

According to Buddy Hughes, Chairman of the National Association of Home Builders (NAHB):

“Almost 40% of home builders reduced sales prices in the last month . . .”

This shows that builders are not only attuned to current market dynamics, but they’re also willing to adjust prices to meet buyer expectations. These price reductions mean that your homebuying budget might go further than you anticipated when purchasing a newly built home.

With the help of a knowledgeable real estate agent, you can explore what incentives are being offered by builders in your desired area. From upgrades to closing cost assistance, there are a variety of perks that could come with purchasing new construction.

Builders Are Helping Buyers Secure Lower Mortgage Rates

Here’s a little-known bonus: buyers of newly built homes are often securing lower mortgage rates than those purchasing existing homes.

Many builders are offering mortgage rate buydowns—an incentive where they contribute funds to reduce your interest rate. It’s a strategic move that helps keep their sales momentum going while making monthly payments more manageable for buyers.

According to data from Realtor.com, in both 2023 and 2024, buyers of new construction homes received mortgage rates that were approximately half a percentage point lower than those purchasing existing homes (see graph below).

That kind of rate difference can significantly impact your monthly payments and overall affordability, making it easier to manage your housing budget without compromising on the features you want in a home.

If you haven’t yet found the right home, this is a great time to expand your search to include newly built homes. You might find that your ideal home already exists—it just happens to be in a new construction community.

Bottom Line

With more options on the market, opportunities to negotiate pricing, and the possibility of securing a better mortgage rate, newly built homes remain a bright spot in today’s real estate market.

If you haven’t considered purchasing a newly built home, now’s the time to explore your options. Reach out to a local real estate expert to see what’s available and whether new construction is the right fit for your needs.

For more information or to start your search, don’t hesitate to contact Mike Panza and the team at Panza Home Group. They’re here to help guide you through every step of the process. Visit https://panzarealestate.com/team/mike-panza to get in touch today.