Real Estate Sarasota & Manateee Counties | Think Suncoast Real EstateReal Estate Sarasota & Manateee Counties | Think Suncoast Real Estate

Julie Larson REALTOR®  941-284-9826

Mary Lou Hetman REALTOR®  941-320-1575

  • Menu
  • My Account
  • Sellers
  • Buyers
    • My Account
    • Advanced Search
    • Search by Address
    • Search by MLS ID
  • About
    • Julie Larson REALTOR
    • Mary Lou Hetman REALTOR
  • Reviews
  • Blog
  • Resources
    • Home Valuation Request
    • Home Inspectors
    • Homeowners Insurance Agents
    • Helpful Real Estate Links
    • Lease to Purchase a Home

Buyers Now Prefer Existing Homes

Surprising Shift Favors Homeowners: Buyers Now Prefer Existing Homes

Surprising Shift Favors Homeowners: Buyers Now Prefer Existing Homes | MyKCM

In April, the National Association of Home Builders (NAHB) posted an article, Home Buyers’ Preferences Shift Towards New Construction, which reported:

“60% of people who were looking to buy a home in 2020 said they’d prefer new construction to an existing home.”

However, it seems buyers are now shifting their preferences back to existing homes.

The latest Consumer Confidence Survey reveals the percentage of Americans planning to buy a home in the next six months is virtually the same as it was back in March. However, the percentage that plan to buy a newly constructed home is lower for that same period.

NAHB confirms this sentiment in their latest Housing Trends Report. The organization explains that existing homes are now the top preference among today’s buyers. Here’s a breakdown of those findings:Surprising Shift Favors Homeowners: Buyers Now Prefer Existing Homes | MyKCM

Why the shift?

There are several reasons why buyer preference is shifting. Here are two that impact purchasers looking to move in now:

  • The process may move faster. Builders may not be able to guarantee when the house will be complete and ready for move-in due to supply chain challenges with materials like lumber and appliances. If you buy an existing home, not only is it ready, it also likely has a refrigerator, range, and other necessary home appliances already.
  • There are no unexpected costs during the buying process. With the price of land, labor, and lumber being so volatile, many builders are including an escalation clause in the price negotiation to cover rising expenses. With an existing home, the final price you will pay is negotiated upfront.

Bottom Line

If you’re a homeowner looking to sell, your house is more attractive to a greater number of buyers as compared to earlier in the year. This might be the time for us to connect to discuss the possibility.

Thinking of Buying or Selling? Call Julie Larson Realtor® 941-284-9826

facebookShare on Facebook
TwitterTweet
FollowFollow us

Posted in: Real Estate

About Julie Larson, Realtor with White Sands Property Group FL

Julie loves the Sarasota's Suncoast area and gets a lot of joy out of matching up home buyers with home sellers and creating a win-win situation for all involved.

ThinkSuncoast.com is your one-stop real estate resource for Sarasota and the surrounding areas.

Your questions and comments are always welcome! Call or text 941-284-9826, email Julie@ThinkSuncoast.com or by using the form on our Contact page!

Post navigation

« Is Now the Time to Buy with Rents on the Rise?
Ready to Sell, but Don’t Know Where You’ll Go? »

Contact Julie Larson

 
 
 
 
 
 
 

Julie Larson, Realtor®
941-284-9826
Julie@ThinkSuncoast.com

Julie Anne Larson LLC

Recent Posts

  • Homeownershiip is the Winner
  • Think Again if You Think Home Prices Are Going to Fall
  • It’s Still a Good Time to Sell Your House
  • The Housing Market is Shifting
  • Recession Does Not Equal Housing Crisis
  • Memorial Day 2022
  • The Future of Home Appreciation and What it Means for You
  • Where are Mortgage Rates Headed in 2022

“LIKE” Us on Facebook!

White Sands Realty Group Florida
1990 Main Street Suite 750
Sarasota, Florida 34236
Disclaimer - All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified.

©2020 My Florida Regional MLS. All rights reserved. | Privacy Policy | Sitemap | XML Sitemap

Log in