Twice as many people prefer new homes over existing homes, according to a new report published by Trulia:
“For the same price, 2 in 5 of Americans (41%) strongly or somewhat prefer to buy a newly built home over an existing home. Just 21% strongly or somewhat prefer an existing home. The remaining 38% have no preference,” according to the report.
The most popular reason people listed for preferring new homes was to have modern features. The ability to customize the home before construction is complete was the second most popular reason. Those are both pretty good points, but good luck finding those new homes here in Southwestern Connecticut.
The Trulia analysis combed through Census data to find the markets with the most single-family construction, and found one Southwestern Connecticut community found itself in the Bottom Ten for the entire nation:
For a bit of context, the U.S. Metropolitan area with the greatest share of new units was in Raleigh, North Carolina, where 17.2 new units were permitted for each 1,000 existing units. For more information, check out the full report here.