One of the biggest hurdles facing residential builders is raising awareness of their projects among prospective buyers, according to Zillow’s recently released new-construction consumer housing trends report.
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First-timers made up 45% of buyers in 2022 and 37% in 2021.
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As more owners continue to hang onto their houses, home values locally and across the nation have reached a new peak, but it comes at a cost.
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“Paint is a relatively affordable and easy change, yet it has an outsized impact on a buyer’s perception of the home,” said Amanda Pendleton, home trends expert at Zillow.
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Homebuyer competition is driving up prices, as inventory constraints continue to plague the real estate market.
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These new homes are envisioned as “missing middle housing,” such as medium and large apartment buildings.
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Atlanta’s April average home value rose while pending sales fell from March.
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Price hikes are slowing down and inventory is up — generally — but less expensive homes are bucking larger market trends. According to Zillow, the price of bottom-tier homes increased 8% year over year, while bottom-tier inventory increased just 1%.
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As affordability remains a concern, some buyers are purchasing mortgage points.
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One of the best ways sellers can make their home stand out in today’s market is by upgrading their space with luxury renovations and amenities.
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