Thinking about buying a home this spring? Dealing with the usual affordability issues and the scarcity of homes on the market? Well, what if there was a neat little trick that could tackle both these problems at once?

If you’re on the hunt for that perfect home but feeling the squeeze from mortgage rates, it might be time to consider checking out the new builds. Here’s why it could be worth your while.

So, you’ve got two options when it comes to finding a place: you can either go for existing homes (ones that have been around the block a few times) or opt for something fresh off the construction line. While there’s been a bit of an uptick in existing homes hitting the market this year, it’s still not quite at the levels we saw back in the good ol’ days of 2018 or 2019.

But fear not, because if you’re looking to expand your choices even further, turning your gaze towards newly built homes might just be the ticket. According to Danielle Hale, Chief Economist over at Realtor.com:

“The shortage of existing homes For Sale has opened up the possibility of new-home construction to more buyers who may not have once considered it.“

And here’s the kicker – there are plenty more newly built homes popping up these days. Check out these nifty graphs using Census data to see how new home construction is on the rise in all the cool places (that green spike is where the action’s at):

Looks like both starts (homes where builders are just getting started) and completions (homes where builders have just wrapped up) are seeing a nice little boost. So, whether you’re after a shiny new home ready for move-in or fancy getting your hands dirty with some customizations along the way, the options are there for the taking.

But wait, there’s more! Builders are throwing in some sweet deals to make the pot even sweeter. Think mortgage rate buy-downs and other treats to make your dream home more affordable. Mark Fleming, Chief Economist at First American, has the lowdown on why builders are feeling more generous than your average homeowner:

“Builders aren’t rate locked-in. They would love to sell you the home because they’re not living in it. It costs money not to sell the home. And many of the public home builders have said in their earnings calls that they are not going to be pulling back on incentives, especially the mortgage rate buydown, so that will help the new-home market continue to perform well in the spring home-buying season.“

And according to an article from HousingWire, it seems like builders are really doubling down on these offers:

“. . . the use of sales incentives still shows some momentum as 60% of respondents reported using them, up from 58% in February. “

Just a heads up though, buying from a builder is a whole different ball game from buying from a regular homeowner. That’s why it’s crucial to team up with a local real estate agent who knows the ropes. Builder contracts can be as tricky as a Rubik’s Cube after all. Your trusty agent will have your back throughout the whole shebang.

They’ll be your guru for all things construction quality and builder rep, helping you navigate those contract negotiations like a pro, and giving you the inside scoop on which customizations are worth splurging on. Basically, they’ll be your fairy godparent of home buying.

So, here’s the bottom line: if you’re stuck in the rut of home hunting or feeling the pinch from today’s prices, it might be time to think outside the box. Let’s have a chat and see if those shiny new builds could be the answer you’ve been looking for.