Are you putting off your plans to sell because you’re worried you won’t be able to find a home you like when you move? If so, it may be time to consider a newly built home and the benefits that come with one. Here’s why.
Near-Record Percentage of New Home Inventory
Newly built homes are becoming an increasingly significant part of today’s housing inventory. According to the most recent report from the National Association of Home Builders (NAHB):
“Newly built homes available for sale accounted for 31% of total homes available for sale in November, compared to an approximate 12% historical average.”
That means the percentage of the total homes available to buy that are newly built is well over two times higher than the norm. And even more new homes are on the way.
Recent data from the Census shows there’s been an uptick in both housing starts (where builders break ground on more new homes) and housing completions (homes where construction just wrapped).
And while some people may worry builders are building too many homes, that isn’t a concern – if anything, the recent increase is really good news. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:
“Even more home building will be needed with the housing shortage persisting in most markets . . . Another 30% rise in home construction can easily be absorbed in the marketplace . . .”
How This Helps You
Since the supply of existing homes for sale is still low right now, the increase of new-home construction can be a game changer because it gives you more options for your search.
Picture yourself in a home that’s new from the ground up: new appliances, fresh paint, fewer maintenance needs because everything is new, and so much more. Doesn’t that sound nice?
And it may be more within reach than you ever imagined. In addition, some builders are offering things like mortgage rate buy-downs for homebuyers right now. This can help offset today’s affordability challenges while also getting you into your dream home. In a recent article, Patrick Duffy, Senior Real Estate Economist at U.S. News, explains:
“Builders have been using mortgage interest rate buydowns for many years as a sales incentive whenever interest rates are relatively high, . . .Today more builders are offering rate buydowns for the entirety of the loan, allowing buyers to finance more home for the same payment amount.”
Just remember, the process of buying from a builder is different from buying from a home seller, so it’s important to partner with a trusted real estate agent who knows the local market. They’ll be your go-to resource for coordinating with the builder, reviewing contracts, and more.
Important Buying Tips
When exploring newly built homes, remember this crucial tip if you’re working with a real estate agent: Don’t visit model homes alone. Schedule a visit with your agent. Most new home communities offer compensation to buyer’s agents, but only if they accompany you on your first visit and register you as their client. This ensures you receive the best possible advice and support throughout the buying process.
Bottom Line
If you’re trying to sell so you can make a move but you’re having a hard time finding a home you like, let’s connect. That way you have a local expert to help you explore all of your options, including the newly built homes in our area.
Local Newly Built Communities
To start your journey, here’s a list of new home communities in our area, complete with links for more information:
Great Park Neighborhoods
- Location: Irvine, CA
- Builder: FivePoint
- Price Range: $966,440 – $2,050,000
- Features: 2-4 bedrooms, baths, up to 3223 sq.ft.
- More Info: Great Park Neighborhoods
The Magnolias at The Meadows
- Location: Lake Forest, CA
- Builder: Toll Brothers
- Price Range: $2,899,000 – $3,199,000
- Features: 5 bedrooms, baths, up to 3111 sq.ft.
- More Info: The Magnolias at The Meadows
Nolin
- Location: Anaheim, CA
- Builder: Landsea Homes
- Contact for price and features.
- More Info: Nolin
Adler at Saddle Crest
- Location: Silverado, CA
- Builder: Tri Pointe Homes
- Price Range: $3,043,665 – $3,808,394
- Features: 4-5 bedrooms, 3-4 baths, up to 4968 sq.ft.
- More Info: Adler at Saddle Crest
Monarch Walk
- Location: Buena Park, CA
- Builder: The Olson Company
- Price Range: $755,990 – $780,990
- Features: 3 bedrooms, 2 baths, up to 1639 sq.ft.
- More Info: Monarch Walk
HB Walk
- Location: Huntington Beach, CA
- Builder: The Olson Company
- Price Range: $935,990 – $1,091,990
- Features: 3 bedrooms, 2-3 baths, up to 1851 sq.ft.
- More Info: HB Walk
The Parklands at The Meadows
- Location: Lake Forest, CA
- Builder: Toll Brothers
- Price: $2,250,000
- Features: 4 bedrooms, 3 baths, around 2782 sq.ft.
- More Info: The Parklands at The Meadows
Hudson
- Location: Placentia, CA
- Builder: Landsea Homes
- Price Range: $584,989 – $798,968
- Features: 1-3 bedrooms, 1-2 baths, up to 1361 sq.ft.
- More Info: Hudson
Bloom at Rienda
- Location: Rancho Mission Viejo, CA
- Builder: Shea Homes
- Price Range: $1,030,520 – $1,201,370
- Features: 3-4 bedrooms, 2-3 baths, up to 2150 sq.ft.
- More Info: Bloom at Rienda
Palm Court
- Location: Anaheim, CA
- Builder: KB Home
- Contact for price and features.
- More Info: Palm Court
Heatherly at Rancho Mission Viejo
- Location: Rancho Mission Viejo, CA
- Builder: Tri Pointe Homes
- Price Range: $991,555 – $1,154,215
- Features: 2-3 bedrooms, 2 baths, up to 2182 sq.ft.
- More Info: Heatherly at Rancho Mission Viejo
Olivewood at Portola Springs
- Location: Irvine, CA
- Builder: New Home Co.
- Price Range: $2,989,990 – $3,579,990
- Features: 4-5 bedrooms, 3-5 baths, up to 3220 sq.ft.
- More Info: Olivewood at Portola Springs
Stratus at Solis Park
- Location: Irvine, CA
- Builder: Taylor Morrison
- Price Range: $2,024,990 – $2,049,990
- Features: 3 bedrooms, 3 baths, 2669 sq.ft.
- More Info: Stratus at Solis Park
Viewpoint at Saddle Crest
- Location: Silverado, CA
- Builder: Rutter Development
- Price Range: $2,950,000 – $3,807,066
- Features: 4-6 bedrooms, 3-6 baths, up to 5731 sq.ft.
- More Info: Viewpoint at Saddle Crest
Sunflower
- Location: Anaheim, CA
- Builder: KB Home
- Contact for price and features.
- More Info: Sunflower
Wildrose at Rancho Mission Viejo
- Location: Rancho Mission Viejo, CA
- Builder: Tri Pointe Homes
- Price Range: $953,000 – $1,050,000
- Features: 2-3 bedrooms, 2 baths, 1313 – 1387 sq.ft.
- More Info: Wildrose at Rancho Mission Viejo
Citrus Square
- Location: Cypress, CA
- Builder: Melia
- Price Range: $740,000 – $895,000
- Features: 2 bedrooms, 2 baths, 1305 – 1992 sq.ft.
- More Info: Citrus Square
Covara
- Location: Anaheim, CA
- Builder: Bonanni Development
- Price: $755,990
- Features: 3 bedrooms, 2 baths, 1582 sq.ft.
- More Info: Covara
The Willows at The Meadows
- Location: Lake Forest, CA
- Builder: Toll Brothers
- Price: $1,900,000
- Features: 3 bedrooms, 2 baths, 2031 sq.ft.
- More Info: The Willows at The Meadows
Botanica at Rancho Mission Viejo
- Location: Rancho Mission Viejo, CA
- Builder: Tri Pointe Homes
- Price Range: $1,210,875 – $1,359,163
- Features: 3-4 bedrooms, 2-3 baths, 1982 – 2303 sq.ft.
- More Info: Botanica at Rancho Mission Viejo
Villas Collection at Los Coyotes Country Club
- Location: Buena Park, CA
- Builder: Brookfield Residential
- Price Range: $1,598,176 – $2,698,900
- Features: 3 – 4 Beds | 2 – 4 Full Baths, 2 – 4 Half Baths | 2297 – 3569 Sq.Ft.
- More Info: Villas Collection at Los Coyotes Country Club
Townes at Broadway
- Location: Anaheim, CA
- Builder: Melia Homes
- Price Range: $800,000 – $900,000
- Features: 2 – 3 Beds | 2 – 3 Full Baths, 2 – 3 Half Baths | 1606 – 1976 Sq.Ft.
- More Info: Townes at Broadway
Wynd at Solis Park
- Location: Irvine, CA
- Builder: Tri Pointe Homes
- Price Range: $1,483,000 – $1,584,000
- Features: 3-4 bedrooms, 2-3 full baths, 2-3 half baths, 2265 – 2764 sq.ft.
- More Info: Wynd at Solis Park
Paisley at Rancho Mission Viejo
- Location: Rancho Mission Viejo, CA
- Builder: Tri Pointe Homes
- Price Range: $778,400 – $917,900
- Features: 2-3 bedrooms, 2-3 full baths, 2-3 half baths, 1366 – 1737 sq.ft.
- More Info: Paisley at Rancho Mission Viejo
Avelina
- Location: San Juan Capistrano, CA
- Builder: Landsea Homes
- Price Range: $941,936 – $971,936
- Features: 3-4 bedrooms, 3 full baths, 3 half baths, 1779 – 1801 sq.ft.
- More Info: Avelina
The Jessup
- Location: Tustin, CA
- Builder: Intracorp Companies
- Features: 3-4 bedrooms, 3 full baths, 3 half baths, 1994 – 2047 sq.ft.
- Additional Details: New for-sale townhome community across from Columbus Tustin Park.
- More Info: The Jessup
Cameron Lane
- Location: Huntington Beach, CA
- Builder: Shea Homes
- Price Range: $952,892
- Features: 3 beds, 3 full baths, 3 half baths, 1421 Sq.Ft.
- More Info: Cameron Lane
Aer at Solis Park
- Location: Irvine, CA
- Builder: Tri Pointe Homes
- Price Range: $1,382,929 – $1,596,848
- Features: 3-4 beds, 2-3 full baths, 2-3 half baths, 2032 – 2670 Sq.Ft.
- More Info: Aer at Solis Park
Juniper at Rienda
- Location: Rancho Mission Viejo, CA
- Builder: Pulte Homes
- Price Range: $778,433 – $918,186
- Features: 2-3 beds, 2-2 full baths, 2-2 half baths, 1120 – 1558 Sq.Ft.
- More Info: Juniper at Rienda
Polaris at Solis Park
- Location: Irvine, CA
- Builder: Pulte Homes
- Price Range: $966,440 – $1,245,852
- Features: 2-4 beds, 2-4 full baths, 2-4 half baths, 1254 – 2057 Sq.Ft.
- More Info: Polaris at Solis Park
Daybreak at Solis Park
- Location: Irvine, CA
- Builder: Pulte Homes
- Price: $2,050,000
- Features: 4 beds, 3 full baths, 3 half baths, 2722 – 2730 Sq.Ft.
- More Info: Daybreak at Solis Park
