Could Newly Constructed Homes Be the Solution If You Decide to Sell?

Are you contemplating selling your house but hesitating due to concerns about finding a suitable home in the current market? You're not alone in this hesitation, but here's some reassuring news that might alleviate your worries: the rise in new home construction is becoming a noteworthy addition to the housing inventory.

This implies that when you decide to list your house for sale this summer, it is essential to contemplate newly constructed homes as it significantly broadens the range of choices available for your next move.

Near-Record Percentage of New Home Inventory

Currently, the proportion of newly constructed homes among the overall inventory available for sale is approaching a historically high level (refer to the graph below).

According to the data, newly constructed homes currently account for approximately 31% of the total inventory available for sale. This represents a significant increase compared to the average of around 13% observed from 1983 to 2019 over the past few decades.

This indicates that the proportion of newly constructed homes in the total available housing inventory is more than double the usual average.

Why This Matters to You 

In general, the housing market continues to experience a shortage of available homes for sale. In such a scenario of limited supply, it becomes imperative to explore all the options at hand. New-home construction has emerged as a significant factor that is transforming the market by increasing inventory. Furthermore, recent data indicates that this trend is gaining even more momentum as additional newly constructed homes are currently in progress and will soon be entering the market in the upcoming months.

According to Robert Dietz, the Chief Economist at the National Association of Home Builders (NAHB), the significance of newly constructed homes cannot be overstated for prospective buyers in today's housing market. Dietz emphasizes the following:

"In the coming quarters, new construction will remain a substantial component of the search process for prospective buyers, considering the limited availability of housing inventory."

It is essential not to underestimate the growth of this market segment and potentially overlook excellent opportunities to discover your ideal home. Neglecting newly built homes could mean missing out on nearly one-third of available options, considering their contribution of approximately 31% to the total inventory for sale.

If you're considering a relocation, enlisting the assistance of a local real estate agent can be invaluable. They can guide you through the process of selling your current house and assist you in exploring newly constructed options available in your area. With their expertise in handling both aspects of the transaction, you can smoothly transition from your current residence to your desired brand-new dream home.

Bottom Line

This is the opportune moment to sell your house and capitalize on the growing momentum in new home construction. To transform your transition to a newly constructed home into a reality, it is advisable to contact a reliable real estate agent who can provide guidance and support throughout the selling and buying process.