Interest in New Homes on the Rise

The share of adults planning a home purchase within a year rose from 13% in the first half of 2022 to 15% in the third quarter. This increase suggests that high mortgage rates and the possibility of even higher rates are creating a sense of urgency to purchase a home sooner rather than later.

According to the National Association of Homebuilders, new homes in particular may be of interest. After bottoming out at 19% in the first quarter of 2022, the popularity of new homes continues to rebound, as the share of buyers looking for new construction rose to 21% and 27% in the second and third quarters of the year, respectively, according to NAHB’s Housing Trends Report. This interest is nationwide: The share of prospective buyers looking to purchase a new home rose in all four regions.

Read More

This website, digital publication, and all of its contents are the copyright protected legal intellectual property of Builder Media. None of the protected content of this publication may be copied, shared, forwarded, reposted, reformatted or in any way utilized for any purpose without the written permission of the Publisher, under penalty of suit as provided by U.S and International laws governing copyright.