Business Record: Demand for newly built homes 'very strong'

The National Association of Home Builders this month published an updated edition of its publication that includes a survey of homebuyers’ preferences.

Buyers’ first preference? Sixty percent of those surveyed said they preferred to buy a newly built house, up 6 percentage points from 2018 when 54% said they wanted new houses.

“That demand for a new house, some place that no one has ever lived in before, is very strong right now,” said Rachel Flint, vice president of Hubbell Homes. “With new construction, you know what your costs are when you sign your purchase agreement. …

“Agreements for existing houses have escalator clauses in them now, and your cost could change.”

Read the full story on the Business Record HERE.