08 May Buyers Prefer Neighborhoods with New Homes
How is new construction classified? The American Housing Survey (AHS) defines it as homes that are four (4) years old or less.
Homeowners were asked by AHS to rank their neighborhood on a scale of 1 to 10. Most ranked positive overall, but newly constructed neighborhoods ranked as a 9 or 10 in almost all cases.
Many new neighborhoods now have active community gathering areas, social events, and amenities designed to draw families and neighbors together. Marry that with the new home benefits of hi-tech conveniences, energy efficient appliances and lifestyle customization options and it’s no wonder buyers are choosing new construction over established, older ones.
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