New Home Inventory is 2x the Normal: Why It's Time to Buy New
The market is shifting in favor of new home buyers—here's why this is the perfect time to make your move.
Key Takeaway
With low resale inventory and 2x the normal new home inventory, builders are buying down mortgage rates, lowering prices, and offering promotions and incentives. It is time to buy new!
The Current Market Reality
Prospective buyers are hesitant to give up low mortgage rates on current homes, and concerned about paying top dollar. This hesitation has created a unique situation in the housing market:
- Low resale inventory: Many homeowners are staying put because they have low mortgage rates they don't want to give up
- 2x normal new home inventory: Builders have significantly more new homes available than typical market conditions
- Builder motivation: With higher inventory, builders are actively competing for buyers
Why Builders Are Offering More Incentives
Builders are responding to market conditions with aggressive incentives and promotions:
Mortgage Rate Buy Downs
Builders are buying down mortgage rates to make financing more affordable for buyers
Lower Prices
Competitive pricing adjustments to attract buyers in a buyer-favorable market
Promotions & Incentives
Additional incentives like closing cost assistance, upgrades, and move-in specials
The Advantage of Buying New Now
More Options to Choose From
With 2x the normal inventory, you have more floor plans, lot locations, and move-in-ready homes to choose from. This gives you better negotiating power and more flexibility in finding your perfect home.
Better Financing Options
Builder rate buy-downs can significantly reduce your monthly mortgage payment. Combined with competitive pricing, you may find that a new home is more affordable than you expected.
Modern Features & Warranties
New homes come with the latest features, energy-efficient systems, and builder warranties. You won't have to worry about immediate repairs or outdated systems.
Reduced Competition
While resale inventory is low and competitive, the new home market offers more opportunities without the bidding wars and urgency of the resale market.
Timing Is Everything
Market conditions like this don't last forever. As inventory levels normalize and more buyers enter the market, these builder incentives and promotions will likely decrease. The window of opportunity for buyers is open right now.
If you've been waiting for the right time to buy a new home, this is it.
Las Vegas New Construction Market: Local Insights
The Las Vegas new construction market is experiencing unprecedented inventory levels, creating exceptional opportunities for homebuyers. In communities like Skye Canyon, Summerlin, and Henderson, builders including those at Arroyo at Skyeview Homes are offering aggressive incentives to move inventory.
Skye Canyon: A Prime Example of Builder Incentives
Skye Canyon, located in northwest Las Vegas (zip code 89166), exemplifies the current market conditions. With multiple new construction developments including Arroyo at Skyeview Homes, Sierra at Skyeview, and Terra at Skyeview, buyers have exceptional options. Builders are offering rate buy-downs, closing cost assistance, and competitive pricing in this master-planned community.
Summerlin and Henderson Markets
Similar opportunities exist throughout the Las Vegas valley. Summerlin (zip code 89149) and Henderson (zip code 89011) are seeing increased new construction inventory with builder incentives. These areas offer excellent schools, amenities, and quality of life, making them attractive for families and professionals.
Why Las Vegas is Ideal for New Construction Buyers
Las Vegas offers several advantages for new construction buyers: no state income tax, relatively low property taxes (approximately 0.60-0.70% of assessed value), a growing economy, and excellent weather that allows for year-round construction with minimal delays. These factors combine with current market conditions to create an ideal buying environment.
Working with Dr. Jan Duffy: Maximize Your Builder Incentives
Dr. Jan Duffy specializes in helping Las Vegas homebuyers navigate the new construction market and maximize builder incentives. With insider knowledge of Arroyo at Skyeview Homes and real-time inventory tracking, she helps clients secure the best deals available.
Insider Knowledge of Current Incentives
Dr. Jan Duffy maintains real-time knowledge of all builder incentives across Las Vegas developments including Arroyo at Skyeview Homes. She knows which communities are offering the best rate buy-downs, closing cost assistance, and pricing adjustments. This insider knowledge helps you secure the maximum value when purchasing new construction.
Construction Monitoring Throughout Your Build
When you purchase a new construction home, Dr. Jan Duffy monitors construction every 7-10 days throughout the build process. This proactive approach catches issues before your warranty expires, potentially saving thousands of dollars. Her monitoring ensures quality construction and helps prevent post-warranty problems.
Building Standards Inspection at Closing
Dr. Jan Duffy provides a complimentary building standards inspection at closing that identifies issues BEFORE your warranty matters. This specialized inspection for new construction catches problems that standard home inspections might miss, ensuring you start homeownership with confidence and protecting your investment.
No Extra Cost to You
Builders pay for buyer representation on all new construction homes including Arroyo at Skyeview Homes. The commission is built into home pricing whether you use an agent or not, which means you're already funding representation. Dr. Jan Duffy works exclusively for YOU, not the builder, ensuring your interests are protected throughout the entire process.
Understanding Builder Incentives in Detail
Mortgage Rate Buy-Downs Explained
Builder rate buy-downs work by the builder paying upfront to reduce your mortgage interest rate for the first few years of your loan. For example, if market rates are 7%, a builder might buy down your rate to 5% for the first two years, then 6% for years three to five. This significantly reduces your monthly payment during the early years of homeownership, making new construction more affordable.
Closing Cost Assistance
Many builders are offering closing cost assistance, which can cover thousands of dollars in fees associated with purchasing a home. This assistance reduces your upfront costs, making homeownership more accessible. Combined with rate buy-downs, these incentives can save you significant money both upfront and over time.
Price Reductions and Upgrade Packages
Some builders are adjusting base prices to be more competitive, and many are offering free or discounted upgrades. These upgrades can include premium flooring, countertops, appliances, and design features that add value to your home. When combined with other incentives, these packages can significantly increase your home's value.
New Construction vs. Resale: Why New Wins Right Now
More Availability and Less Competition
While resale inventory is low and competitive, the new construction market offers significantly more availability. You won't face bidding wars, cash offers, or the urgency that characterizes the current resale market. You have time to make informed decisions and choose the home that truly fits your needs.
Modern Features and Energy Efficiency
New construction homes feature the latest in home design and energy efficiency. Modern HVAC systems, energy-efficient windows, proper insulation, and ENERGY STAR-rated appliances help reduce utility costs in Las Vegas's hot desert climate. These features are designed specifically for the Las Vegas environment, helping you save money on utilities while maintaining comfort.
Builder Warranties Provide Peace of Mind
New construction comes with comprehensive builder warranties covering structural defects (typically 10 years), major systems (2-5 years), and workmanship (1 year). This warranty protection provides peace of mind that you won't face unexpected repair costs. Combined with Dr. Jan Duffy's building standards inspection at closing, you can be confident your home is built to the highest standards.
Customization Opportunities
When purchasing pre-construction, you may have the opportunity to customize finishes, flooring, cabinetry, and design elements through the builder's design center. This allows you to create a home that truly matches your style and preferences. Even if you purchase a move-in ready home, you can often make selections on finishes and upgrades.
New Home Inventory: Frequently Asked Questions
New home inventory is 2x the normal because many homeowners are staying in their current homes due to low mortgage rates they don't want to give up. This has reduced resale inventory while builders have continued construction, creating higher new home inventory levels. Builders are responding with aggressive incentives to move inventory.
Still Have Questions?
Dr. Jan Duffy is here to answer all your questions about buying new construction homes in Las Vegas. Get expert guidance tailored to your specific situation.
Call Dr. Jan: (702) 903-4687