People Want Less Expensive Homes – And Builders Are Responding
Posted by John and Christie Forget on
People Want Less Expensive Homes – And Builders Are Responding
In today’s housing market, two main affordability challenges impact buyers: mortgage rates that are higher than they’ve been the past couple of years, and rising home prices caused by low inventory. To overcome those challenges, many people are working with their agents to find less expensive homes. And with newly built homes making up a historically large percentage of the total available inventory today, that search often includes brand new homes.
People Are Spending Less on Newly Built Homes
The graph below uses the latest information from the Census to show in June, more of the newly built home sales in this country were in lower price ranges than in 2022:Last year, only 58%…
2484 Views, 0 Comments