Should You Consider Buying a Newly Built Home in Odenton - Fort Meade MD?
If you’re thinking about buying a home in 2023, you're likely already searching existing homes for sale in the Odenton / Fort Meade market. With inventory at all time lows in our area and buyer demand rising, it might be time to search all of your options including newly constructed or to be built homes for sale.
The Number of Newly Built Homes Is on the Rise
While there are more houses for sale right now than there were at this time last year, there’s still a historically low number of homes available on the market near the base. One reason for that is years of underbuilding—meaning there haven’t been enough new homes built to keep up with demand.
The graph above shows how low the production of newly constructed homes has been over the past 14 years. But it also shows another important trend: the number of new homes being built each year is on the rise. As Mark Fleming, Chief Economist at First American, shares, that’s good news for buyers:
Builder Incentives For New Construction Homes
The good news in our area is that builders are starting to keep a small inventory of homes and they are ready to sell. Incentives include free bonus rooms, closing cost help, free upgrades, paying points to buy down your interest rate, price reductions, and more! It varies by builder and community. Our team works hard to stay on top of the most recent offers from our local builders.
If you'd like the scoop on our newest communities and options to buy and build a home in the next 12 months, contact The Roskelly Team today at (410) 721-6694 or visit us online!
Bottom Line
Even though there aren’t a lot of homes for sale today, new home inventory is on the rise, and many builders are offering incentives. Let’s connect so I can help you weigh the pros and cons of shopping for a new home versus an existing one.
