Surprising Shift Favors Homeowners: Buyers Now Prefer Existing Homes

David Deem 714-997-3486 Dave@DeemTeam.com In April, the National Association of Home Builders (NAHB) posted an article, Home Buyers’ Preferences Shift Towards New Construction , which reported: “ 60% of people who were looking to buy a home in 2020 said they'd prefer new construction to an existing home. ” However, it seems buyers are now shifting their preferences back to existing homes. The latest Consumer Confidence Survey reveals the percentage of Americans planning to buy a home in the next six months is virtually the same as it was back in March. However, the percentage that plan to buy a newly constructed home is lower for that same period. NAHB confirms this sentiment in their latest Housing Trends Report . The organization explains that existing homes are now the top preference among today’s buyers. Here’s a breakdown of those findings: Why the shift? There are several reasons why buyer preference is shifting. Here are two that impact p...