Quick Takeaways

  • Some sellers are pricing their homes higher than ever just because they can, but this may drive away serious buyers and result in unapproved appraisals
  • The highest offer is not always the best offer – consider cash options and contingencies that could work in your favor
  • Hire a REALTOR® to help you navigate this once in a lifetime seller’s market

Source: 7 Tips and Tricks to Capitalize on Selling in a Seller’s Market (HomeLight, Apr. 29, 2021)

In April 2022, the median purchase price of a new home was approximately 451,000 U.S. dollars, which was an increase of almost 73,000 U.S. dollars from the same month in 2021 (U.S. Census). More than two in three house purchases were financed through a conventional mortgage (U.S. Census). 1.25 million new home starts are forecasted for 2023 (U.S. Economic Outlook).

Depending on your market and your selling style, selling new construction can either be a side niche or your fulltime specialty. It’s exciting for a buyer to be the first to live in a home, but selling those new homes is a different experience from existing homes. Whether you’re learning to sell model or spec homes, answering questions from buyers about upgrades, or calming down a homeowner overwhelmed by buyer’s remorse, you can use NAR’s resources to come up to speed on a satisfying, but sometimes challenging, role in the industry.

See References for more information.