{"id":8894,"date":"2023-05-22T09:17:21","date_gmt":"2023-05-22T14:17:21","guid":{"rendered":"https:\/\/www.morty.com\/resources\/?p=8894"},"modified":"2023-05-22T12:49:24","modified_gmt":"2023-05-22T17:49:24","slug":"spring-buyers-new-construction","status":"publish","type":"post","link":"https:\/\/www.morty.com\/resources\/the-morty-report\/spring-buyers-new-construction","title":{"rendered":"Spring buyers look to new construction"},"content":{"rendered":"\n

Spring buyers have few homes to choose from<\/h2>\n\n\n\n

Last week we saw mortgage rates<\/a> tick upwards again to two-month highs<\/a>, but buyer demand continues to be strong. <\/p>\n\n\n\n

While rates above 6.5% keep some out of the market, other buyers are competing vigorously<\/a> for the few homes available. While inventory levels are low across the country as sellers resist listing their homes, a recent survey from Bankrate<\/a> showed that markets in Georgia, Tennessee, Florida and North Carolina are among the strongest in the country. The continued strong demand for few available homes is also propping up prices<\/a>, especially as we head from May into June, typically prime times for homebuying<\/a>. <\/p>\n\n\n\n

New construction continues to be a bright spot for both builders and buyers. For builders, sentiments have risen<\/a> as low-inventory of existing homes means that new construction is in high demand. For buyers, new construction can be a more available and affordable path to home ownership<\/a> in the near term, depending on their market.<\/p>\n\n\n\n

-Robert Heck, VP of Mortgage @ Morty<\/p>\n\n\n\n

\"\"<\/a><\/figure>\n\n\n\n

In the news<\/h2>\n\n\n\n
\n
\n
\"\"<\/a><\/figure>\n\n\n\n

Want a 5% mortgage rate? Buy a newly built home<\/a><\/p>\n\n\n\n

For buyers of newly constructed homes, deals are out there. And rates can be far lower than elsewhere in the market.<\/p>\n<\/div>\n\n\n\n

\n
\"\"<\/a><\/figure>\n\n\n\n

What Are Housing Starts, and Why Should Homebuyers Care?<\/a><\/p>\n\n\n\n

Understand what housing starts really mean, and how to factor them into your home search.<\/p>\n<\/div>\n\n\n\n

\n
\"\"<\/a><\/figure>\n\n\n\n

New home construction rose in April after a dip in March<\/a><\/p>\n\n\n\n

Housing starts rose last month, as continued low-inventory of existing homes bodes well for the new construction market.<\/p>\n<\/div>\n<\/div>\n\n\n\n

\"\"<\/a><\/figure>
\n

Want to know what you can afford?<\/p>\n\n\n\n

\n
VIEW Mortgage RATES<\/a><\/div>\n<\/div>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"

Spring buyers have few homes to choose from Last week we saw mortgage rates tick upwards again…<\/p>\n","protected":false},"author":30,"featured_media":8903,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_lmt_disableupdate":"yes","_lmt_disable":"","_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[611],"tags":[13,564,33],"series":[562],"class_list":["post-8894","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-morty-report","tag-house-hunting","tag-mortgage-rates","tag-real-estate","series-the-morty-report-newsletter"],"acf":[],"yoast_head":"\nSpring buyers look to new 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