If you’ve assumed a brand-new home automatically comes with a hefty price tag, it might be time to take another look. Right now, the housing market is offering a unique opportunity—newly built homes in the Triangle area are often more affordable than existing ones.
According to recent data from the U.S. Census Bureau and the National Association of Realtors (NAR), the median price of a newly constructed home is actually lower than that of an existing home.
That’s right—you could potentially buy a brand-new home in Raleigh for less than a house built 20 years ago down the street. If you’ve ruled out new construction, thinking it’s out of reach, here’s what you should know.
Why Are Newly Built Homes Less Expensive Right Now?
1. Builders Are Focusing on Smaller Homes
Builders know affordability is a top concern for today’s buyers. To keep prices down, many are building smaller homes instead of large, high-end properties.
According to the Census Bureau, the average size of new single-family homes has decreased in recent years (see graph below):
Smaller homes cost less to build due to reduced materials and labor, and that savings is passed on to buyers.
2. Builders Are Offering Price Cuts and Incentives
In today’s market, builders are motivated to move inventory. According to the National Association of Home Builders (NAHB):
- 34% of builders dropped prices in May, with an average reduction of 5%
- 61% of builders offered buyer incentives, such as covering closing costs or mortgage rate buydowns
These offers are designed to attract buyers and make new construction even more budget-friendly.
Your Next Step: Ask Your Agent About New Builds in Your Area
If you’re looking to buy a home in the Triangle, contact Linda Craft Team Realtors to talk about what new construction opportunities are available in Raleigh and the surrounding areas. We have access to:
- New communities being built
- Builders offering incentives
- Triangle area properties that may not be listed on major home search websites
Plus, buying a new build often involves different steps and paperwork than buying an existing home. Having your own agent ensures you have someone to negotiate on your behalf, explain the process, and protect your interests every step of the way.
Bottom Line
You may be able to buy a modern, brand-new home with all the latest features—at a lower price than an older resale home. Contact Linda Craft Team Realtors to explore whether a newly built home might be the perfect fit for you.
If buying a home in the Triangle area is on your radar, what would stop you from considering new construction options? Let’s find out what’s available and how to make it work for your budget.