When planning your next move, a newly built home might not be the first option that comes to mind. But with more new construction homes hitting the market—and builders prioritizing smaller, more affordable designs—buying new could be your golden ticket to homeownership.
Here’s why a new build might be the perfect fit for you—and how working with a local Kansas City agent can make the process smooth and rewarding.
1. More Newly Built Homes Are Available Right Now 🏗️
Let’s start with the basics: a newly built home is a house that’s just been completed or is still under construction. By contrast, an existing home has already been lived in.
Right now, Kansas City’s housing market is experiencing low inventory for existing homes. If you’ve been searching and coming up empty-handed, it might be time to expand your options. The good news? New builds currently make up a much larger share of the housing market than they did in previous years.
From 1983 to 2019, newly built homes accounted for just 13% of available inventory. Today, that number has surged to nearly 29%! Builders are working hard to keep up with demand, and as Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:
“Even though existing home sales have been stuck at low levels, newly constructed home sales look to mark one of its best annual performances in 15 years . . . The new home inventory has been consistently rising with homebuilders getting active and making up around 1/3 of total inventory.”
While builders aren’t overbuilding, they are helping to address the ongoing housing shortage, creating more opportunities for buyers like you to find your dream home.
2. Newly Built Homes Are Becoming More Affordable đź’¸
Think new construction is out of your budget? Think again! The average cost of newly built homes has actually come down compared to last year.
Why? Builders are responding to buyer demand for affordability by designing smaller homes at lower price points. These homes are easier to sell and better suited to today’s market. As Realtor.com notes:
“Builders are increasingly bringing smaller, more affordable homes to the market, so buyers may find more newly-built homes that fit their budget.”
Why Work with the Dowell Family Team of ReeceNichols? 🤝
Buying a newly built home isn’t quite the same as buying an existing one. Builder contracts can be complex, with unique terms and conditions that require a keen eye.
Partnering with the Dowell Family Team ensures:
- You understand the fine print in builder contracts.
- You’re connected to reputable builders in Kansas City.
- You can navigate the market with confidence and secure the best deal possible.
Bottom Line: Is a New Build Right for You? đźŹ
A newly built home could be the solution you’ve been searching for to bring your homeownership goals to life. With more inventory and increasing affordability, now’s a great time to consider this option.
Ready to explore Kansas City’s new construction opportunities? Let’s connect today and discover the perfect home to fit your needs and budget!
