If you have been throwing around the idea of constructing a new home, now may be the perfect time to do so! In response to a slow in new home sales, builders have begun to offer more sales incentives than ever before! They are aiming to provide the last bit of encouragement that buyers need.
Due to these incentives, increases in new home sales have been observed. However, many experts attribute this change to job growth, improving credit conditions, and wage growth as well. The National Association of Home Builders’ monthly index of homebuilder confidence has reported a 4-point increase from the previous month. September 2014 marks the highest index reading in almost 10 year. Builders are becoming more and more optimistic about the current market conditions.
A few examples of sales incentives that builders are offering are free premium flooring upgrades, and elimination of closing costs! Incentives will shave off some of the builder’s profit margin, but greatly benefits the buyer. Recently, it was reported that 26% of builders have adopted the sale incentive trend in the past months. Almost all have increased their sale incentives this year as compared to last. If you are looking to build your new home, now is the time to interview builders, and determine how many incentives you will be able to take advantage of.
If you would like assistance finding the perfect property, please get in touch with one of the respected real estate agents of The Barr Team, located in Irvine! With almost 30 years of service to Southern California buyers and sellers, we have the experience necessary to take control of your real estate transactions, and ensure the outcome is in your favor. We take pride in our superb customer service, and cannot wait to share our industry knowledge with you, today!