A government report highlighted that the number of unsold new homes on sale across the country swelled to a record high of 566,000 last month.
That means a lot of homes are on the market with home sellers who are motivated to sell. That means bargains should be forthcoming.
On Friday, an International Monetary Fund report said that US property prices were “overvalued”, so prices may not have fallen yet, but the more property remains unsold, the lower prices will go.
A short time ago, there were not enough homes being built to meet the demand, now there is more than enough and supply of new homes outweighs the demand for them.
Some Builders and Developers have gone as far as to offer free cars, vacations, furniture, and appliances to new homebuyers.
Now is the time to be hunting for the best deal you can make. That even includes avoiding high commissions to brokers. Flat Fee MLS is becoming more and more popular.
See Also
- Don’t Pay High Commissions!
Use Flat Fee MLS
