Wednesday, August 13, 2025 / by Joyce Dungca
If you’ve been skipping over newly built homes in your search, you might be doing so based on outdated assumptions. Let’s clear up a few of the most common myths, so you don’t miss out on a solid opportunity.
Myth 1: New Homes Are More Expensive
It’s easy to assume a new build will cost more than an existing home, but that’s not necessarily true, especially right now.
Data from Census and the National Association of Realtors (NAR) shows the median price of a newly built home today is actually lower than a home that’s been lived in already (an existing home):
So, why’s this happening? As Heather Long, Chief Economist at Navy Federal Credit Union, explains:
“This largely reflects two trends: New homes are getting smaller on average, and builders are doing more price cuts.”
If you’ve ruled out new construction based on price alone, it’s time to take another look. Talk to your local re ...
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team raj jaggi, buyers, sellers, housing market, real estate agents, newly built homes, homebuilders, new homes
Tuesday, April 8, 2025 / by Joyce Dungca
Headlines are talking about the inventory of new homes and how we’re back at the levels not seen since 2009. And maybe you’re reading that and thinking: oh no, here we go again. That’s because you remember the housing crash of the late 2000s and you’re worried we’re repeating the same mistakes.
But before you let fear take hold, remember: headlines are designed to be clickbait. And a lot of the time, they do more to terrify than clarify. That’s because they don’t always give you all the context you need. So, let’s take a step back and look at what the data really says.
Why This Isn’t Like 2008
While it’s true the number of new homes on the market has reached its highest level since 2009, that’s not a cause for alarm.
Here’s the context that matters most. When the data is turned into a graph, it’s clear the amount seen in 2009 wasn’t the peak of oversupply – not even close. That h ...
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team raj jaggi, buyers, sellers, housing market, new homes
Wednesday, November 8, 2023 / by Joyce Dungca
Are you dreaming of buying your own home and wondering about how you’ll save for a down payment? You're not alone. Some people think about tapping into their 401(k) savings to make it happen. But before you decide to dip into your retirement to buy a home, be sure to consider all possible alternatives and talk with a financial expert. Here’s why.
The Numbers May Make It Tempting
The data shows many Americans have saved a considerable amount for retirement (see chart below):
It can be really tempting when you have a lot of money saved up in your 401(k) and you see your dream home on the horizon. But remember, dipping into your retirement savings for a home could cost you a penalty and affect your finances later on. That's why it's important to explore all your options when it comes to saving for a down payment and buying a home. As Experian says:
“It’s possible to use funds from your 401(k. ...
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team raj jaggi, buyers, sellers, homes, home owners, homeownership, home buyers, new homes
Thursday, July 13, 2023 / by Joyce Dungca
Even as some companies transition back into the office, remote work remains a popular choice for many professionals. So, if you currently enjoy working from home or hope to be able to soon, you’re not alone. According to a recent survey, most working professionals want to work either fully remote or hybrid (see below):
This trend is good news if you’re looking to buy a home because a remote or hybrid work setup can help you overcome some of today’s affordability and housing inventory challenges.
More Work Flexibility Equals More Home Options
Remote or hybrid work opens up a world of opportunities. That’s because it allows you to broaden your search for your next home since you’re no longer limited to living close to your workplace. With the freedom to work from anywhere, you can explore more affordable areas that may be located farther away from bustling city centers or your office. This flexibility can be a game. ...
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team raj jaggi, buyers, homes, home, new homes, residential homes, working remotely
Tuesday, July 11, 2023 / by Joyce Dungca
If you’re in the process of looking for a home today, you know the supply of homes for sale is low because you’re feeling the impact of having a limited pool of options. And, if your biggest hurdle right now is that you’re having trouble finding something you like, don’t forget that a newly built home is a great option.
As a recent article from the National Association of Realtors (NAR) says:
“Home buyers continue to be met with limited housing options during what’s typically the real estate market’s busiest season. . . . The current supply of existing homes is about half the level it was in 2019 . . . Meanwhile, the market for new construction is a bright spot.”
Here’s a look at a key metric that shows just how much new home construction is ramping up nationwide. It’s called new residential completions. Basically, completions are newly built homes that are finis. ...
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team raj jaggi, buyers, first-time home buyers, homes, new homes, residential homes
