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Buying Tips

Builder Incentives Reach 5-Year High

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Even with more homes on the market right now, some buyers are still having a tough time finding the right one at the right price. Maybe the layout feels off. Maybe it still needs some updating. Or maybe it’s just more of the same.

That’s why more buyers are turning to new construction – and finding some of the best deals available today.

Why? Today, many builders have more homes that are finished and sitting on the market than normal. And that means they’re motivated to sell. They’re running a business, and they don’t want to sit on their inventory. They want to sell it before they build more homes. And that can definitely work in your favor.

As Lance Lambert, Co-Founder of ResiClub, puts it:

“In housing markets where unsold completed inventory has built up, many homebuilders have pulled back on their spec builds—and many are doing bigger incentives or outright price cuts to move unsold inventory.”

Incentives Are the Highest They’ve Been in 5 Years

Data from the National Association of Home Builders (NAHB) shows 66% of builders offered sales incentives in August. That’s the peak so far this year, and the highest percentage we’ve seen in 5 years.

a graph of blue rectangular bars with numbersThat means 2 out of every 3 builders are offering something extra to get deals done. And when builders throw in incentives, it’s the buyers like you who win.

Price Cuts Are Back on the Table

One of the most common incentives they’re offering right now is adjusting the price. According to NAHB, almost 40% of builders are doing price cuts (see graph below):

On average they’re taking off about 5% off the purchase price of the house. For a buyer, 5% could be the difference between reluctantly settling and finally getting a home that works for you.

Take a $500,000 house as an example. If builders reduce the price by 5%, you’re saving $25,000.

And even if the builder you’re interested in won’t budge on price, they’ve got plenty of other levers to pull. As Realtor.com explains: 

“. . . there are deals to be found in the market for new homes, with builders increasingly willing to negotiate on price or offer incentives such as rate buydowns and closing cost assistance.”

Why This Matters for You

As a buyer, you probably have a clear vision for your ideal home. Because you’re not just buying any house. You’re buying your house. The one with the space, features, and lifestyle you’ve been hoping for. New builds can check those boxes since they usually have: 

  • Bigger kitchens and open layouts
  • Energy efficiency (hello lower utility bills)
  • Smart-home upgrades
  • Fewer repair headaches on day one

And today’s incentives make buying a new home more attainable than it’s been in years.

One Word of Advice: Don’t Go At It Alone

If you want to take advantage of this opportunity, just be sure to use your own agent. Builder reps aren’t there to save you money. They protect the builder’s bottom line. That’s why you need to bring your agent with you. Your agent will:

  • Cut through the sales pitch and run the cold hard numbers
  • Spot which incentives are actually worth it (and which ones are fluff)
  • Handle negotiations so you walk away with the best deal possible
  • Keep your best interest as their top priority

Bottom Line

If you’re not finding a home you love, the new home market is buzzing with opportunity. With record-high incentives, price cuts in play, and builders itching to move inventory, this is the best time in years to buy new construction.

Curious how far today’s incentives could stretch your budget? Connect with an agent to see what builders are offering in your area.

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Buying Tips

Why October Is the Best Time To Buy a Home in 2025

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If you’ve been watching from the sidelines, now’s the time to lean in. It’s officially the best time to buy this year. According to Realtor.com, this October will have the most buyer-friendly conditions of any month in 2025:

“By mid-October, buyers across much of the country may finally find the combination of inventory, pricing, and negotiating power they’ve been waiting for—a rare opportunity in a market that has been tight for most of the past decade.”

So, if you’re ready and able to buy right now, shooting for this month means you should see:

  • More homes to choose from
  • Less competition from other buyers
  • More time to browse
  • Better home prices
  • Sellers who are more willing to negotiate

Just remember, every market is different. For most of the top 50 largest metros, that sweet spot falls in October. But the peak time to buy may be slightly earlier or later, depending on where you live. As Realtor.com explains:

“While Oct. 12–18 is the national “Best Week,” timing can shift depending on the local markets. . .”

Best Week To Buy for the Top 50 Largest Metro Areas

  • Atlanta-Sandy Springs-Roswell, GA: September 28 – October 4
  • Austin-Round Rock-San Marcos, TX: September 28 – October 4
  • Baltimore-Columbia-Towson, MD: October 12 – 18
  • Birmingham, AL: October 19 – 25
  • Boston-Cambridge-Newton, MA-NH: October 26 – November 1
  • Buffalo-Cheektowaga, NY: October 12 – 18
  • Charlotte-Concord-Gastonia, NC-SC: November 2 – 8
  • Chicago-Naperville-Elgin, IL-IN: September 28 – October 4
  • Cincinnati, OH-KY-IN: October 12 – 18
  • Cleveland, OH: October 12 – 18
  • Columbus, OH: October 12 – 18
  • Dallas-Fort Worth-Arlington, TX: September 28 – October 4
  • Denver-Aurora-Centennial, CO: October 12 – 18
  • Detroit-Warren-Dearborn, MI: October 12 – 18
  • Grand Rapids-Wyoming-Kentwood, MI: September 28 – October 4
  • Hartford-West Hartford-East Hartford, CT: September 21 – 27
  • Houston-Pasadena-The Woodlands, TX: October 12 – 18
  • Indianapolis-Carmel-Greenwood, IN: October 26 – November 1
  • Jacksonville, FL: October 26 – November 1
  • Kansas City, MO-KS: October 12 – 18
  • Las Vegas-Henderson-North Las Vegas, NV: October 5 – 11
  • Los Angeles-Long Beach-Anaheim, CA: October 12 – 18
  • Louisville/Jefferson County, KY-IN: November 2 – 8
  • Memphis, TN-MS-AR: September 21 – 27
  • Miami-Fort Lauderdale-West Palm Beach, FL: November 30 – December 6
  • Milwaukee-Waukesha, WI: September 7 – 13
  • Minneapolis-St. Paul-Bloomington, MN-WI: October 26 – November 1
  • Nashville-Davidson–Murfreesboro–Franklin, TN: October 12 – 18
  • New York-Newark-Jersey City, NY-NJ: September 14 – 20
  • Oklahoma City, OK: October 12 – 18
  • Orlando-Kissimmee-Sanford, FL: October 26 – November 1
  • Philadelphia-Camden-Wilmington, PA-NJ-DE-MD: September 7 – 13
  • Phoenix-Mesa-Chandler, AZ: November 2 – 8
  • Pittsburgh, PA: October 12 – 18
  • Portland-Vancouver-Hillsboro, OR-WA: October 26 – November 1
  • Providence-Warwick, RI-MA: October 19 – 25
  • Raleigh-Cary, NC: October 12 – 18
  • Richmond, VA: October 26 – November 1
  • Riverside-San Bernardino-Ontario, CA: September 28 – October 4
  • Sacramento-Roseville-Folsom, CA: October 12 – 18
  • San Antonio-New Braunfels, TX: October 12 – 18
  • San Diego-Chula Vista-Carlsbad, CA: October 12 – 18
  • San Francisco-Oakland-Fremont, CA: October 12 – 18
  • San Jose-Sunnyvale-Santa Clara, CA: October 19 – 25
  • Seattle-Tacoma-Bellevue, WA: October 19 – 25
  • St. Louis, MO-IL: October 12 – 18
  • Tampa-St. Petersburg-Clearwater, FL: November 30 – December 6
  • Tucson, AZ: October 12 – 18
  • Virginia Beach-Chesapeake-Norfolk, VA-NC: September 21 – 27
  • Washington-Arlington-Alexandria, DC-VA-MD-WV: October 12 – 18

What the Experts Are Saying

And Realtor.com isn’t the only one saying you’ve got an opportunity if you move now. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:

Homebuyers are in the best position in more than five years to find the right home and negotiate for a better price. Current inventory is at its highest since May 2020, during the COVID lockdown.”

Daryl Fairweather, Chief Economist at Redfin, puts it like this:

Nationally, now is a good time to buy, if you can afford it . . . with falling mortgage rates and significantly more inventory, buyers have an upper hand in negotiations.”

And NerdWallet says:

“This fall just might be the best window for home buyers in the past five years.”

How To Get Ready for this Golden Window

To make sure you’re ready to jump in whenever your market’s best time to buy arrives, talk to a local agent now. They’ll be able to give you more information on your market’s peak time, why it’s good for you, and the steps you’ll need to take to get ready.

Bottom Line

If you’re serious about buying, getting prepped for this October window is a smart play.

Want help lining up your strategy? Have a quick conversation with a local agent so you’ve got the information you need to be ready for this prime buying time.

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Affordability

3 Reasons Affordability Is Showing Signs of Improvement This Fall

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For the past couple of years, it’s been tough for a lot of homebuyers to make the numbers work. Home prices shot up. Mortgage rates too. And a number of people hit pause because it just didn’t feel possible. Maybe you were one of them.

But there’s some encouraging news. If you’ve been waiting for a better time to jump back in, affordability may finally be showing signs of improvement this fall.

The latest data from Redfin shows the typical monthly mortgage payment has been coming down, and is now about $290 lower than it was just a few months ago (see graph below):

a graph of a graph of a mortgage paymentAnd here’s why this is happening. The cost of buying a home really comes down to three things:

  • Mortgage rates
  • Home prices
  • Your wages

Right now, all three are finally moving in a better direction for you. While that doesn’t mean it’s suddenly easy to buy at today’s rates and prices, it does mean it’s not as challenging.

1. Mortgage Rates

Mortgage rates have come down compared to earlier this year. In May, they were roughly 7%. And now, they’re closer to 6.3% (see graph below):

a graph showing a line of interestThat may not sound like a big deal, but it does matter. Even small changes in rates can make a difference in your future monthly payment. Compared to when rates were 7%, if you take out an average $400K mortgage now at 6.3%, it’ll cost about $190 less a month based on just rates alone.

And for some people, that’s been enough to make buying a home possible again. As Joel Kan, VP and Deputy Chief Economist at the Mortgage Bankers Association (MBA), explained on September 10th:

The downward rate movement spurred the strongest week of borrower demand since 2022 . . . Purchase applications increased to the highest level since July and continued to run more than 20 percent ahead of last year’s pace.”

2. Home Prices

After several years of prices rising very rapidly, price growth has finally slowed. As Odeta Kushi, Deputy Chief Economist at First American, puts it:

“National home price growth remains positive, but muted — low single digits — and we expect this trend to continue in the second half of the year.

For buyers, that’s actually a big relief. That moderation makes it easier to plan your budget. And in some markets, prices have even dipped slightly. If you’re in one of the markets, you may be able to find something that’s more affordable than you’d expect.

3. Wages

According to the Bureau of Labor Statistics (BLS), wages are up near 4% annually. Lawrence Yun, Chief Economist at NAR, explains why that number is so important right now:

“Wage growth is now comfortably outpacing home price growth, and buyers have more choices.”

In other words, the typical paycheck is rising faster than home prices right now, which helps make buying a little more affordable. Now, it’s not a big difference, but in a market like this, every bit counts.

What This Means for You

Lower rates, slower price growth, and stronger wages might be enough to make the numbers finally work for you this fall. 

While affordability is still tight, it’s a little easier on your wallet to buy now than it was just few months ago. Remember, data from Redfin shows the typical monthly mortgage payment is already around $290 lower than it was earlier this year.

Bottom Line

Have you been wondering if it’s worth taking another look at buying?

Work with a professional to re-run the numbers. Together you can go over your budget, see what’s changed, and figure out if this fall is the time to turn window-shopping into key-turning.

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Buying Tips

From Frenzy to Breathing Room: Buyers Finally Have Time Again

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If you tried to buy a home a few years ago, you probably still remember the frenzy. Homes were listed one day and gone the next. Sometimes it only took hours. You had to drop everything to go and see the house, and if you hesitated even slightly, someone else swooped in and bought it – sometimes even sight unseen.

That kind of intensity pushed a lot of buyers to the sidelines. It was stressful, chaotic, and for many, really discouraging.

But here’s what you need to know: those days are behind us.

Today’s market is moving slower, in the best possible way. And that’s creating more opportunity for buyers who felt shut out in recent years.

The Stat That Changes Everything

According to the latest data, homes are spending an average of 58 days on the market. That’s much more normal. And it’s a big improvement compared to the height of the pandemic, when homes were flying off the shelves in a matter of days (see graph below):

a graph of blue bars with white textThat means you now have more time to make decisions than you have at any point in the past five years. And that’s a big deal. Now, you’ve got:

Time to think.

Time to negotiate.

Time to make a smart move without all the pressure.

More Time Means Less Stress (and More Leverage)

Based on the data in the graph above, you have an extra week to decide compared to last year. And nearly double the time you would have had at the market’s peak.

Back then, fear of missing out drove buyers to act fast, sometimes too fast. Today, the pace is slower, which means you’re in control. As Bankrate puts it:

“For years, buyers have been racing to snag homes because of the fierce competition. But the market’s cooled off a bit now, and that gives buyers some breathing room. Homes are staying listed longer, so buyers can slow down, weigh their options and make more confident decisions.”

With more homes on the market and fewer buyers racing to grab them, the balance has shifted. Bidding wars aren’t as common, and that means you may have room to negotiate. And you can actually take a breath before you make your decision.

More listings + a slower pace = less stress and more opportunity

But, and this is important, it still depends on where you’re buying. Nationally, homes are moving slower. But your local market sets your real pace. Some states are moving faster than others. It may even vary down to the specific zip code or neighborhood you’re looking at. And that’s why working with an agent to know what’s happening in your area is more important than ever. 

To see how your state compares to the national average (58 days), check out the map below:

a map of the united statesAs Realtor.com explains:

While national headlines might suggest a buyer’s market is taking hold, the reality on the ground depends heavily on where and what you’re trying to buy. Local trends can diverge sharply from national averages, especially when you factor in price range, property type, and post-pandemic market dynamics.”

A smart local agent can tell you exactly when to move fast and when you can take your time, so you never miss the right home for you.

Bottom Line

If the chaos of the past few years drove you to hit pause, this is your green light. The market’s pace has shifted. You have more time. More options. More power.

And with the right agent guiding you, you’re in the best position you’ve been in for years.

Connect with a local agent to talk about what the pace looks like in your area, and if now could be the right time for you to re-enter the market.

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Copyright © 2020-2025 Mark Sincavage. All rights reserved.  
The information contained, and the opinions expressed, in these article are not intended to be construed as investment advice. Let's Talk Real Estate, Mark Sincavage, and Keeping Current Matters, Inc. do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Let's Talk Real Estate, Mark Sincavage and Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.