Are you considering selling your house but are hesitant because you're concerned about finding your next home in the current market?

You're not alone, but there's some good news that might alleviate your worries. New home construction is on the rise and is now a substantial portion of the housing inventory.

This means that when you decide to put your house on the market this summer, it's essential to consider newly built homes to broaden your options for your next move.

Near-Record Percentage of New Home Inventory

The graph below illustrates that newly constructed homes currently represent a significant proportion of the total homes available for sale, reaching a near-record percentage.

In fact, as the data shows, newly built homes now make up 31% of the total for-sale inventory. Over the past couple of decades, newly built homes made up an average of only around 13% of total housing inventory from 1983 to 2019.

That means the percentage of the total available homes that are newly built is over two times higher than the norm.

Why This Matters to You 

In general, the number of homes available for sale remains low. In such a situation, it is important to consider all the options available to you. New-home construction has become a significant factor in increasing the housing inventory. Furthermore, recent data indicates that this trend is gaining momentum, with more newly built homes currently being developed and expected to enter the market in the coming months.

Robert Dietz, Chief Economist at the National Association of Home Builders (NAHB), highlights the importance of newly built homes for those looking to buy in today’s housing market. Dietz states:

“With limited available housing inventory, new construction will continue to be a significant part of prospective buyers’ search in the quarters ahead.”

Don’t overlook this growing market segment and risk missing out on great opportunities to find your ideal home. Since new home construction accounts for roughly 31% of total for sale inventory, you could be cutting nearly one in three options from your search if you don’t consider newly built homes. 

If you’re looking to make a move, a local real estate agent can help you sell your current house and explore newly built options in your area. They have the expertise you need to handle both sides of the process so you can move out of your current house and into your brand-new dream home.

Bottom Line

This is the perfect opportunity to sell your house and benefit from the growing momentum in new home construction. Get in touch with a reliable real estate agent who can assist you in every step of the selling and buying process, making your transition to a newly constructed home a reality.