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If you’ve been skipping over newly built homes in your search, you might be doing so based on outdated assumptions. Let’s clear up a few of the most common myths, so you don’t miss out on a solid opportunity.

Myth 1: New Homes Are More Expensive

It’s easy to assume a new build will cost more than an existing home, but that’s not necessarily true, especially right now.

Data from Census and the National Association of Realtors (NAR) shows the median price of a newly built home today is actually lower than a home that’s been lived in already (an existing home):

So, why’s this happening? As Heather Long, Chief Economist at Navy Federal Credit Union, explains:

“This largely reflects two trends: New homes are getting smaller on average, and builders are doing more price cuts.”

If you’ve ruled out new construction based on price alone, it’s time to take another look. Talk to your local real estate agent to see what’s available (and at what price points).

Myth 2: Builders Don’t Negotiate

Many buyers assume builders aren’t going to play ball when it comes time to negotiate. But that’s just not the case. A number of builders are sitting on finished inventory they want to sell quickly. And that makes them more open to compromising. Mark Fleming, Chief Economist at First American, explains a builder:

“. . . would love to sell you the home because they’re not living in it. It costs money not to sell the home. And many of the public home builders have said in their earnings calls that they are not going to be pulling back on incentives, especially the mortgage rate buydown . . .” 

That means you may find builders more flexible than individual sellers, and more motivated to toss in incentives to get the deal done. According to Zonda, 75% of new home communities offered incentives on new homes considered quick move-ins in June.

Myth 3: They Don’t Build Them Like They Used To

Some people think newer homes lack the craftsmanship of older ones. But here’s a reality check. Quality can vary in any era. And using a reputable builder matters more than the build date.

According to the National Association of Home Builders (NAHB), a good way to gauge quality is by talking to buyers who have purchased from that builder recently. In an article, NAHB explains:

“Any high-quality builder should be ready to provide you with the names and phone numbers of satisfied customers. If they cannot, consider that a red flag and walk away.”

The article suggests asking those buyers questions like:

• Did the builder meet their expectations?
• Would you use that same builder, if you were to do it again?

But you can also ask your agent about the builder’s reputation. Generally, agents know about the builders active in your area and may even have experience with past clients who have bought a home in one of that builder’s communities.

Myth 4: You Don’t Need Your Own Real Estate Agent

This might be the biggest myth of all. The truth is, when you buy a brand-new home, using your own agent is even more important. Builder contracts have different fine print, and you’ll want a pro on your side who can really explain what you’re signing and advocate for your best interests.

These stats seem to prove that’s the case. In a Realtor.com survey, buyers who purchased a newly built home rated their agents far more helpful than the builder (or the builder’s representative) during the process (see visual below):

Bottom Line

Don’t let misconceptions keep you from exploring one of the most promising options in today’s housing market.

Whether you’re curious about what’s being built nearby or wondering if a new home fits your budget, connect with a local agent. You might be surprised by what’s out there.

Some Highlights

• Now that there are more homes for sale, buyers have more options. And sellers need to be more flexible to close the deal.
• That’s why almost half of homeowners are making some type of concession. This can include covering closing costs, paying for repairs, or dropping the price.
• Not sure which concessions to offer? Connect with a local agent so you know what’s working for sellers in your market.

Some Highlights

• A growing number of homeowners are overestimating today’s market. ​And that’s why the number of sellers dropping their price is back at normal levels.​
• A lot of the time this is happening because they’re not paying attention to current conditions. The best way to avoid that mistake? Lean on the expertise of an agent.
• If you want a proven pricing strategy that works for today’s market, connect with a local agent.

Life can feel a bit unpredictable these days. What’s happening with inflation? The economy? The housing market? But in the middle of all that uncertainty, there’s one thing a lot of people still crave – a place to call their own.

Because when everything else feels up in the air, home can be the thing that grounds you. As the experts at 1000WATT put it:

“Homeownership isn’t primarily financial anymore. . . Across all demographics, emotional and lifestyle factors consistently outrank wealth-building as motivators.”

Here’s what owning a home can mean for you, especially right now.

Freedom To Make It Yours

When you’re a homeowner, you don’t need to ask permission to paint a wall, hang a gallery of your favorite art, or redo the floors. You have the freedom to create a space that reflects who you are, all the way from the light fixtures to the paint colors.

Pro Tip: Just be mindful about exterior changes, if you buy a home in a community that has a homeowner’s association (HOA). There may be some approvals you’d need to get for select outdoor changes.

More Privacy, More Peace

Owning your home can give you a sense of peace you didn’t even realize you were missing. It’s a comfortable place where you feel secure and can relax, enjoy your privacy, and unwind after a long day.

Room To Grow

Whether it’s starting a family, setting up a home office for your new career, or finally building that home gym in the garage so you can hit your fitness goals, owning gives you the space to live life on your terms.

A Stronger Sense of Community

When you own, you’re not just passing through, you’re putting down roots. That often leads to stronger ties with your community, more connection to your neighborhood, and a deeper feeling of belonging where you live. That’s very different from the temporary nature of renting.

A Feeling of Accomplishment

There’s something powerful about getting the keys and walking into your own front door for the first time. It’s more than pride, it’s personal satisfaction. A quiet and meaningful sense of “I did this.”

Sure, it’s not always easy for first-time homebuyers right now. The market today requires patience, strategy, and sometimes a little creative problem-solving. But it’s still worth it. As Realtor.com says:

“Buying a home is a major commitment, but it’s also incredibly rewarding.”

When you get those keys in your hand, when you realize this place is where your life gets to unfold, it clicks. The stress, the waiting, the planning – all of it led you home.

Bottom Line

There are a lot of things out of your control right now. But building a life in a space that’s truly yours? That’s still possible with the right strategy and expert help. Talk to a local agent about how to make it happen. 

What would it mean for you to finally have a place to call your own?

Are you thinking about buying a home, but not sure if now’s the right time? A lot of people are waiting and wondering what the market’s going to do next. But here’s something only the savviest buyers realize:

This summer might actually be the best time to buy in years. Here are three big reasons why.

1. You Have More Negotiating Power

After several years of sellers having all the leverage, things are starting to shift. Check out the graph below. It uses data from Redfin to show that right now, there are more sellers active in the market than buyers:

Take a look at what happened back in 2021 through roughly 2023. In that time period, there were far more buyers (the blue line) looking to buy than homes for sale (the green line). That’s what drove the intense competition, bidding wars, and the exponential price growth the market saw back then.

Now, the market has shifted, and buyers are regaining their negotiating power as a result. With more sellers than buyers, sellers may be more willing to pay for repairs, cover some of your closing costs, or lower their asking price. The return of this kind of normal balance is a sign of a much healthier, more sustainable market. As Lawrence Yun, Chief Economist of the National Association of Realtors (NAR), explains:

“ . . . with housing inventory levels reaching five-year highs, homebuyers in nearly every region of the country are in a better position to negotiate more favorable terms.”

And just in case you’re worried there are too many homes on the market, here’s what you should know. Overall inventory is still lower than normal, so you don’t have to worry about a nationwide oversupply or a crash.

2. You Have More Choices

The number of homes for sale has improved a lot. Based on the latest data from Realtor.com, more homes were listed this May than in May 2024 or May 2023 (see graph below):

And more homes for sale means more choices. There’s a good chance your perfect match just hit the market – or it will soon. So, it’s a great time to explore what’s out there. As Jake Krimmel, Economist at Realtor.com, says:

“With more fresh inventory hitting the market, buyers have better opportunities to find a home that fits their needs.”

3. You May See More Flexibility on Price

With more homes for sale, they’re not selling at the same frenzied pace they were just a few years ago.

Since homes are taking more time to sell, some sellers are choosing to lower their asking prices to draw buyers back in or speed up the process. And that’s to-be-expected. According to Realtor.com, 19.1% of listings had a price cut this May (see graph below):

That’s the fifth straight month where more sellers have reduced their price. And, as of May, the volume of price cuts is back at normal levels. This is yet another sign of the return to a more balanced market.

While you shouldn’t expect a big discount, you may find sellers are a bit more flexible right now. As a recent article from The Street says:

“Although sellers have had the upper hand in the housing market over the past few years, houses are now staying on the market for longer, shifting negotiating power back to homebuyers.”

Just remember, most sellers still aren’t adjusting their prices – just the ones who overpriced to start with. So, this isn’t a sign of a crash, it’s a sign of some sellers having outdated expectations in a shifting market.

Bottom Line

This summer brings a powerful combo for buyers: more homes to choose from, less competition, and sellers being more flexible on pricing. If you’re ready to make a move, connect with a local real estate agent. They’d love to help you take the next step.

What would finding the right home this summer mean for your next chapter?