As buyers navigate the housing market, new homes are becoming more appealing. According to a National Association of Home Builders (NAHB) survey of recent and prospective home buyers, when faced with choosing between an existing home or a newly built home, 61% of buyers say a new home is their first preference, which marks the highest share of buyers leaning toward new construction since 2007.
New homes can be custom-built on the buyer’s lot or they can be built-for-sale (including the land). The NAHB study shows a rising trend in the share of buyers who would prefer a new home built-for-sale over the last two decades, from 22% in 2003 to 40% in 2023. In comparison, the preference for a custom-built home among buyers declined from 49% to 21% during this period.
It’s no surprise that buyers are seeking new homes. Unlike many older homes, new construction features modern floor plans and designs prioritizing space, optimization and comfort. Buyers can select from a variety of layouts, including expansive open areas to accommodate diverse lifestyles and growing families. Moreover, contemporary designs extend beyond flexible floor plans to incorporate the latest technological features and appliances.
Another benefit of purchasing a new home is the energy-efficient options available. Many builders have embraced green building techniques, so a home is cost-effective to operate, has healthy indoor air quality and minimal impact on environmental resources. NAHB recently surveyed more than 3,000 home buyers, both recent and prospective, on the features they prefer in their home, including eco-friendly components and designs. Some of the top features desired by home buyers include modern windows, HVAC systems and ENERGY STAR-rated appliances.
New homes offer financial advantages beyond energy efficiency. Home owners can also save on maintenance 
costs. Professionally constructed homes are built to endure, mitigating the need for costly repairs common in older properties. New home buyers are spared the inconvenience of replacing aging appliances. With minimal need for immediate upgrades or renovations, residents can fully enjoy their new homes, communities, and the American dream.
For information on the benefits of new home builders in your area, find the local home builders association in your area HERE.