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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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"My husband and I are honored to recommend Russ Fortuno as the most efficient and professional real estate professional we have had. We feel very blessed to have found Russ while we were still in North Carolina. We planned to relocate to Green Valley, AZ and were interested in establishing a rapport and receiving listings prior to moving cross-country. By the time we arrived Russ pretty much knew what we were looking for. Even though the inventory was not terribly plentiful at the time we found our home the very first day we went looking!!! In addition to helping us find the perfect home, Russ was wonderful to refer us to local contractors and professionals in our area. He is a wealth of information and took the time to answer any questions we had. We also felt the step-by-step timeline Russ includes in his service was very helpful."
- M.P., Green Valley, AZ
"Russ Fortuno is an exceptional real estate professional. He is personable, responsive and really knows the Green Valley real estate market. Additionally, Russ is a strong buyer’s advocate, good listener and business professional. He gave his honest opinion on places and did not push in any way. Living in Northern California, we required an agent who has a spectrum of knowledge about Green Valley as well as being able to navigate a transaction via long distance. Trust is key in all real estate business but really was crucial with our purchase. Russ showed us many properties prior to COVID, we ended up putting an offer on a property that we didn’t see until the inspection was completed. Having trust in Russ made our long distance home purchase possible. It was a little scary doing business this way but I can say that we are very happy with our condominium and Russ made such a purchase smooth and a relatively easy process. I whole heartedly recommend Russ to anyone seeking real estate in the Green Valley area, we will use Russ for all our future Green Valley real estate business."
- S.M., Redding CA
"Russ was very helpful with respect to the hunt and purchase of my home in Green Valley. I valued his input as far recommending homes and all the additional info as far as resources in the area. He had to deal with me being in Pennsylvania and handling most of the work long distance. He reviewed the potential homes based on my wants/needs and continually send me lists and updates. By the time I got to Arizona on vacation we went thru the list, visited sites and made a choice in one day. I would gladly recommend Russ to any possible client in the future. Can’t thank him enough. "
- M.F., Green Valley AZ
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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
Contact Russ

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