As of mid July 2024, interest rates are still higher than Snoop Dog. In my opinion, there is NO BETTER TIME to buy a new constriction home. There are builders as of July 2024 offering incentives such as:
One of the main concerns I hear people talking about is build quality in a new construction home. The rate at which homes are built is sky high, and there are some homes that are not built properly. There are also some that are built very well. With that being said, your next home purchase doesn't have to be your forever home. Stop paying someone else's mortgage down and start paying your own, especially if you can get a rate starting at 3.5%. Even with a higher interest rate, let's get you into a new home for the next few years. You'll accrue equity, pay the mortgage down, and you can always refinance to a lower rate later or sell the home and use the equity to upgrade later!
If you have any questions or you need advice on purchasing a home, or you want a free market analysis on your home please reach out.