According to the U.S. Census Bureau, this year, builders are on pace to complete more than a million new homes in this country. If you’ve had trouble finding a home to buy over the past year, it may be time to work with your trusted agent to consider a new build and the incentives that come with it.
With so many buyers looking to purchase a home and so few of them available for sale, fiercely competitive bidding wars became the norm during the pandemic – and it drove home prices up.
If you’re thinking about buying a home, you likely have a lot of factors on your mind. You’re weighing your own needs against higher mortgage rates, today’s home prices, and more to try to decide if you want to jump into the market.
Mortgage rates are much higher today than they were at the beginning of the year, and that’s had a clear impact on the housing market. As a result, the market is seeing a shift back toward the range of pre-pandemic levels for buyer demand and home sales.
If you’re thinking about making a move, you probably want to know what’s going to happen to home prices for the rest of the year. While experts say price growth will moderate due to the shifting market, ongoing appreciation is expected.
🏡 3 Bedrooms | 2 baths | 1,320 sq. ft. on 12,493 sq. ft. Lot →$378,000
🏡 2 Bedrooms | 2 baths | 1,152 sq. ft. on 22.0 +/- acres. Lot →$715,000
