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You are here: Home / Blog / Market Trends

New homes may have the incentives you’re looking for

September 1, 2022

New Homes May Have the Incentives You’re Looking for Today

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. Here’s why.

The Supply of Newly Built Homes Is Rising

When looking for a home, you can choose between existing homes (those that are already built and previously owned) and newly constructed ones. While the inventory of existing homes is on the rise today, it’s still in tight supply, meaning it can be challenging to find just the right one.

The inventory of newly built homes, however, is also rising. And with more options available than there have been in years, a new home may be just the answer you’re looking for. The graph below shows just how much the supply of newly built homes has grown this year.

New homes may have the incentives you’re looking for

And here’s the thing – builders are also keeping a close eye on current market trends. With mortgage rates rising this year and, as a result, buyer demand softening, builders are slowing their pace of new construction. That’s because they learned their lesson in the housing crash of 2008 and want to avoid over-building and having too much inventory in their pipeline.

Basically, while there are more newly built homes on the market today than there have been in years, many builders want to sell their current inventory before adding much more – and that’s where you can really benefit. Today, builders may be more willing to work with buyers. According to a recent survey, 83% of builders have reduced their prices over the last three months.

What That Means for You

The current supply of newly built homes for sale coupled with the fact that data shows the majority of builders are doing price reductions are both great news for you. It means you may have more options and possibly some much-needed relief if you consider newly built homes in your search.

Bottom Line

If you’re ready to buy, it may be time to look for a newly built home. To learn what’s available in our area and what incentives these builders are offering, let’s connect today.

Filed Under: Market Trends Tagged With: Inventory, New Construction

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"Russ was so professional and knowledgeable. He helped us every step of the way. He’s still there for us when we have questions. I would highly recommend Russ to anyone looking to purchase a home in Green Valley."
- T.M., Green Valley AZ
"I can’t say enough about what an outstanding job Russ did for us! We decided to retire to AZ and after touring several areas in the state, we chose the Tucson area. I found Russ online and reached out to him to help us find our retirement neighborhood and home. Russ spent a day showing us all of the different neighborhoods in both Sahuarita and Green Valley that met our requirements and were within our budget. By the end of the day, we had chosen four neighborhoods. Russ then found four homes for sale in our chosen neighborhoods; two in our favorite! The next day, Russ took us to tour the four homes and by the end of the second day, we made an offer. We are relocating from Kentucky and Russ has been there for us every single step of the way. He has been invaluable in making this entire experience smooth and exciting for us! His service after the sale has been equally exemplary!"
- E. W., Sahuarita AZ
"We were out-of-town buyers and bought our condo sight unseen. First time ever we did this but Russ helped us every step of the way. He sent us videos of the condo, showed the condo to our friend who lives in Green Valley, set up home inspections, and explained differences in Arizona real estate laws/processes to us clearly. He also sent us a timeline on when specific tasks needed to be completed, and he was always available to discuss questions or concerns. We never felt pressured – only felt that we were working with a professional who was looking out for our best interests. We would use him again in a heart beat!"
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Russ Fortuno, Associate Broker

I'm a Southern Arizona native and year-round Green Valley resident. Whether you’re buying or selling a home in the Green Valley or Sahuarita area, you’ll experience unsurpassed service and professionalism at all stages of your real estate transaction. I welcome the opportunity to assist in your next home sale or purchase.
Meet Russ

Tierra Antigua Realty

18745 S. I-19 Frontage Rd., Ste. A105
Green Valley, AZ 85614
(520) 333-0446
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