When most people think new construction, they think of all the luxuries that come with having a brand new home—and the hefty price tag to match.
But as it turns out that hefty price tag? It might not be as set in stone as you’d imagine.
According to a recent article on Zillow, the housing market in the US has finally started to cool. As a result, price cuts on new construction are becoming more common. In fact, more than one-quarter of all newly-constructed homes listed in Q4 2018 (25.1%) had their price cut at least once.
The Takeaway: If you’ve had your eye on newly-constructed homes but were put off by high price tags, have your real estate agent do their research on the property. In today’s market, there’s a good chance that price can (and will) come down.