Over Half of Builders Used Incentives to Bolster Sales in May

In a tight economy, builders are finding ways to pull in customers and keep them satisfied. One way of doing that is by offering incentives for new homebuyers.

According to a survey from NAHB, many builders are using incentives like reducing their costs or offering free add-ons. 19% of builders reported offering extra options or upgrades for free or at reduces cost. The same amount said yes to covering their buyers’ closing costs or fees. 18% reported discounting pricing or reducing margins. Other incentives that were less popular with homebuilders surveyed include free energy-efficient features, absorbing financing points for buyers, mortgage rate buy-downs, and offering to match future price reductions.

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