HUGE Price Cuts Hit the Housing Market as Builders PANIC
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HUGE Price Cuts Hit the Housing Market as Builders PANIC
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Builders are becoming increasingly aggressive in selling new homes, offering record incentives such as massive price cuts and mortgage rate buy-downs, which are narrowing the premium new homes typically carry over existing homes. With inventory up and buyers struggling under high rates, builders are responding by delivering smaller homes and townhomes, offering perks such as finished basements or even free cars, and lowering list prices, bringing the gap between new and resale home pricing down to historically low levels.
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PODCATS ARE OPINIONS EXPRESSED BY LICENSED REAL ESTATE AGENTS IN DIFFERENT REAL ESTATE MARKETS. DO NOT BASE YOUR HOME PURCHASE OR SALE ON THE OPINIONS EXPRESSED IN THIS STREAM. ALWAYS CONSULT YOUR LOCAL REALTOR FOR YOUR MARKET CONDITIONS.