Part 8/9:
The New Construction Landscape
New construction plays a crucial role in the shifting market dynamics, as builders are compelled to entice buyers with favorable mortgage rates and price reductions. However, despite a reported 46% increase in the number of newly completed homes available for occupancy, the narrative of an inventory shortage continues, misleading public perceptions.
The Path Forward for Buyers and Sellers
For prospective homebuyers, the current housing market presents a unique opportunity to negotiate better terms, as more options become available. Buyers may want to remain cautious and await more favorable opportunities, as market conditions continue to evolve.