New construction homes are attracting homebuyers amidst the low supply and high prices of the spring housing market. In March, sales of new single-family houses increased, offering incentives and better availability compared to existing homes. Builders are providing rate buy-downs, price cuts, and covering closing costs to entice buyers despite the slightly higher prices of new builds. This is due to builders prioritizing sales over profit margins, making new homes more affordable and accessible for buyers.
