article thumbnail

NAR’s Lawrence Yun predicts lower rates, 15% jump in existing-home sales in 2024

Housing Wire

Yun took the stage on Tuesday at NAR NXT , the trade group’s annual conference in Anaheim, California. Meanwhile, he counts on home builders to ramp up new construction, as the existing-home inventory shortage lifts demand for new homes. In 2023, new-home sales are up 5% year to date, Yun said.

Sales 450
article thumbnail

New Year, New Home? 9 Myths About Buying a New-Construction House That Actually Aren’t True

Realtor.com

Getty Images Many first-time homebuyers might shy away from the prospect of buying a brand-new home, assuming: It will cost too much. While purchasing new construction is indeed different from purchasing previously owned property, many misconceptions abound about new builds. New construction homes are more expensive.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Benefits of Investing in New Construction Real Estate

Norada Real Estate

When it comes to investing in residential real estate, there are only two basic types of property you can invest in – new construction and resale. New construction properties are those that are purchased directly from the builder or developer who constructed the property. In short, they are considered brand new.

article thumbnail

Home pricing rules: don’t go if you don’t know

Housing Wire

In that case, you need to be staged better and priced better than your competition or you’ll be the one who’s stuck doing price reduction calls in about 60 days. If there are new homes going up, be certain to tour them and understand the builder’s perks and financing before you go to your listing appointment.

article thumbnail

What Are Builder Incentives? The Secret to Getting a Deal on a New-Construction Home

Realtor.com

to “Purchase before X date, and we’ll pay all of your closing costs.”. Homebuilders may offer incentives at any stage of the project’s development. Many happen at the initial launch to help generate buzz for a new community and get the first few residents on board. ” How financial incentives with builders work.

article thumbnail

5 of the Top We Buy Houses for Cash Companies in Columbia, TN

HomeLight

If your house is outdated or needs repairs, competing with all the new construction homes on the market can feel like a daunting prospect. Receive your offer in 24 hours and close in as few as 10 days. Make sure you understand all aspects of the agreement, including any fees or closing conditions.

article thumbnail

Become a New Home Construction Expert

The Residential Specialist

New construction is always seen as much more expensive. From the lot to the wallpaper Depending on the stage of construction, a CRS working with a buyer may be involved from the initial lot selection through the final close and beyond. in Jacksonville, Florida, has worked primarily in new construction for 13 years.