Looking for Better Pricing or Lower Rates? New Construction Might Offer Both.

Many homebuyers today are holding off, hoping for either lower prices or lower mortgage rates. But what if there’s a hidden opportunity where you could get both?

The answer may surprise you: New Construction Homes.

New Construction Homes: More Available Than You Think

According to recent data from the U.S. Census Bureau and NAR, about 1 in 5 homes on the market today is brand new.That means if you’re only looking at resale homes, you’re potentially missing 20% of available inventory.

Builders are also more motivated than ever, offering special incentives and deals to attract buyers.

Benefit #1: Lower Prices

According to the National Association of Home Builders (NAHB), nearly 40% of builders have recently reduced home prices.

Why? They understand the challenges of today’s market and are adjusting prices to meet buyer demand. This gives you more room to negotiate and possibly stretch your budget further on a brand-new home.

Pro Tip: A knowledgeable real estate agent can help you navigate builder incentives and ensure you’re getting the best deal possible.

Benefit #2: Lower Mortgage Rates

Here’s a fact many buyers overlook: New construction homes often come with lower mortgage rates.

Builders frequently offer rate buydown programs to help move inventory faster, lowering your interest rate significantly.

According to Realtor.com, buyers of new construction homes in 2023–2024 secured rates about 0.5% lower on average compared to buyers of resale homes.

That difference may seem small, but over time it can save you tens of thousands of dollars and reduce your monthly payment noticeably.

Is It Time to Consider New Construction?

If you haven’t found the right home yet, it might be time to broaden your search. There could be a brand-new home closer — and more affordable — than you realize.

With more choices, negotiable prices, and interest rate incentives, new construction homes present a rare opportunity in today’s market.

The Bottom Line

If you haven’t considered new construction yet, now might be the perfect time.With more inventory, price flexibility, and mortgage incentives, these homes are among the smartest choices for today’s buyers.

Not sure what’s available in your area? Let’s explore together — I’ll help you understand local options and incentives so you don’t miss out.

Chicago Real Estate | Hansang Chul📞 773-717-2227📧 ChicagoBDB@gmail.com