by Omar Cruz | Jul 17, 2026 | Buying Tips, For Buyers, For Sellers, New Construction, Selling Tips
Author: Keeping Current Matters
Negotiations are back. More buyers are asking for better deals, and more sellers are giving them. Builders are throwing in extras, too.
That’s why, whether you’re buying or selling today, there are two terms you’ll hear a lot: concession and incentive.
- A concession is something a seller agrees to during negotiations to get a deal done.
- An incentive is a perk a builder (or a seller) advertises upfront to attract buyers.
Let’s run through what you need to know about both and how they could play a role in your move.
More Sellers Are Agreeing to Concessions
Almost half (46%) of homeowners who sold recently gave the buyer a concession, according to Redfin. That’s the highest share on record for this time of year. And roughly 1 in 7 (16%) sellers went a step further, cutting their asking price and offering a concession on top (see chart below):
So, what kind of concessions are we talking about?
A seller might cover part of your closing costs, take care of a repair, or offer a credit that trims your upfront costs. It’s how they keep a deal on track when buyers have more options to choose from – and homeowners aren’t the only ones compromising.
Builders Are Cutting Prices, Too
Newly built homes are seeing the same push and pull. According to the National Association of Home Builders (NAHB), 62% of builders are offering incentives right now. And about 35% are cutting prices outright (see chart below):
Those incentives often look like:
- Price adjustments
- Mortgage rate buydowns
- Free upgrades, like nicer finishes or appliances
Danielle Hale, Chief Economist at Realtor.com, explains why:
“New construction has been one of the steadiest parts of the housing market over the past few years, but builders are clearly responding to today’s affordability pressures and higher levels of existing-home inventory.”
Even builders, who many people think rarely negotiate, are competing on price and perks. They have been for over a year now. The same data shows this is the 15th straight month where more than 60% of builders have offered incentives to sweeten the deal. And that’s significant.
What This Means for Your Move
If you’re buying, this is a good time to ask. Whether you have your eye on an existing house or a newly built home, there’s a chance the seller or builder will meet you partway on price, terms, or both.
If you’re selling, expect buyers to ask. Even builders of brand-new homes are making concessions more often than not right now. Holding firm on every term could mean more time on the market or a lost sale altogether.
Bottom Line
Sellers and builders are both giving buyers more to work with this year. A local agent can tell you what to expect in concessions and incentives based on inventory and competition in your local market.
by Omar Cruz | Jun 4, 2026 | Affordability, Buying Tips, First-Time Buyers, For Buyers, New Construction
Author: Keeping Current Matters
You started shopping with a specific mental image of your future home in your mind. Then the houses in your budget came in smaller than you had pictured.
That’s the reality for a lot of buyers right now. Affordability is tight.
But don’t let that discourage you. Going smaller might actually be a smart play in today’s market – and the upside can be bigger than you’d think. Let’s break down two places to look where smaller won’t necessarily feel like a compromise.
Homebuilders Are Focused on Smaller Options Lately
For starters, smaller is kind of on trend right now. Newly built homes have been shrinking for years. According to the latest data from the Census, the median square footage of new single-family homes has been falling overall since 2014 (see graph below):
Why? Builders focus on the types of homes consumers want the most. After all, they want to build what will actually sell. And for the past decade, buyers seem to agree less is more.
Especially right now, when affordability is a key concern, they’re building homes with smaller square footage than a decade ago. And that’s good because that may be more within budget for many buyers. It’s part of why new home prices recently hit a 5-year low.
So, if you’re not getting excited about any of the existing options at your price point, it may be time to check out what builders are doing in your area.
You may find brand-new options you really love with all the latest and greatest features. And if you’ve got modern appliances and design, maybe slightly less square footage doesn’t feel like that much of a compromise anymore, especially if the house is move-in ready.
Condos Are Opening Up Another Path
Just in case you don’t have a ton of new builds in your area, another avenue worth exploring is condominiums or condos.
For buyers crunching numbers to make the math work, condos can take real pressure off the budget. According to the National Association of Realtors (NAR), the median price for condos is less than the median for single-family homes in every region (see graph below):
Part of that is because condos are typically smaller. And smaller square footage can come with a smaller price tag too. That’s a selling point to affordability-strapped buyers right now – and it’s one of the reasons we’re seeing a bump in condo sales.
The number of condos sold rose 2.7% from just a month ago. It’s also up year over year, according to NAR. Ali Wolf, Chief Economist for New Home Source, explains why more buyers are going this route:
“In addition to favoring smaller floor plans, more consumers are showing a willingness to live in an attached home. This shift is not driven by a preference for shared walls, but by a pursuit of value.”
The Community Does Some of the Heavy Lifting
Here’s why smaller may still work for you. Whether it’s a condo complex or a neighborhood of detached single-family homes, the right community can give you back in amenities what you trade in square footage.
Many developments are designed so the home is just one piece of where you actually spend your time. Master-planned communities often include walking trails, pools, fitness centers, co-working spaces, and outdoor gathering areas – the kind of features that pick up where your floor plan leaves off.
No room for a dedicated office? The co-working space might be just a five-minute walk away. Want a place to work out? It’s already built in with the shared gym. And features like that can make opting for a smaller footprint feel less like a compromise – and more like a big lifestyle upgrade.
Bottom Line
Today’s smaller single-family homes and condos have more going for them than the square footage suggests. They can give your budget some breathing room and put you in a community designed with lifestyle in mind.
Curious about the options in your area? Connect with a local real estate agent to walk through what’s available.
by Omar Cruz | Feb 10, 2026 | Affordability, First-Time Buyers, New Construction
This blog is written by Keeping Current Matters.
Buying your first home can feel frustrating when the numbers don’t line up the way you expected. You may know you’re ready, but finding something that fits your life and your budget is the hard part.
That’s where townhomes come in.
Townhomes are becoming a bigger part of today’s housing supply, and that shift is opening doors for first-time buyers in a way we haven’t seen in years. That’s because they offer a more realistic path to step into homeownership without stretching yourself too thin, especially in a market where affordability can still feel tight.
There Are More Townhomes To Choose From
Builders are building more townhomes than they have in decades. In fact, when you look at data from the National Association of Home Builders (NAHB), nearly 1 in 5 new single-family homes being built today is a townhome. That’s the highest share on record (see graph below):
To put that in perspective, just a decade ago, townhomes made up closer to 1 in 10 new construction homes.
That gives today’s buyers far more townhome options than they had in the past. And that’s a really good thing.
Townhomes are one of the best ways for first-time buyers to finally get their foot in the door. And seeing that there’s more available for sale means one thing: you may have more opportunity to break into the market than you think.
Here’s why they’re such a popular choice for buyers like you.
Townhomes Tend To Be More Affordable
While prices vary by market, Redfin data shows townhomes are typically priced lower than detached single-family homes nationally. And that gap has grown in recent years as the supply of this type of home has grown too (see graph below):
There are two main reasons you may find a better deal on a townhome today.
Reason #1: Size
Townhomes are usually smaller by design. Most modern townhomes fall in the 1,300–1,500 square foot range, which helps keep prices and monthly payments lower. Basically, it works like this. Since they usually have a smaller footprint, they’re cheaper to build, and that makes them less expensive to buy, too. Ali Wolf, Chief Economist at NewHomeSource, explains how this helps buyers:
“With the high cost of housing across the country, townhomes have emerged as a vital, more accessible entry point into homeownership. They are often priced lower than detached houses, offering buyers – especially first-timers, young professionals, and those downsizing – the chance to build equity without breaking the bank.”
Reason #2: Builder Motivation
And here’s another thing working in your favor. With more inventory than in recent years, homebuilders are motivated to sell what they’ve already built.
So, many may be more willing to negotiate, whether that means price flexibility, closing cost help, or potentially throwing in upgrades. According to the National Association of Realtors (NAR):
“. . . home builders say they’re ready to attract more first-time home buyers. They’re responding to affordability pressures through lower cost homes and builder incentives. About 40% of builders cut prices on newly built homes at the end of last year . . . Roughly two-thirds of builders also offered additional incentives, like mortgage rate buydowns.”
Bottom Line
If buying your first home feels just out of reach, the right option might not be a different timeline. It might be a different type of home.
If you want to talk through whether a townhome makes sense for you or see what’s available in your area, connect with a local real estate agent.
by Omar Cruz | Nov 19, 2025 | For Buyers, For Sellers, New Construction
If it feels like you’re seeing new construction signs pop up everywhere, you’re not wrong. Builders have been busy. And it’s left some people wondering: Are we overbuilding like we did right before the 2008 housing crash?
No matter what you may hear in the news, there’s no reason for alarm. In reality, data shows builders aren’t racing ahead, they’re actually starting to tap the brakes.
Builders Are Pulling Back, Not Piling On
Permits (applications to start building new homes) are one of the best early indicators for what’s next for home construction. And right now, building permits are trending down, not up. Here’s why that’s so important.
In the years before the housing crash of 2008, builders really ramped up their production of single-family homes (the red arrow in the graph below). And unfortunately, they built far more homes than the market actually needed. That oversupply led to falling home prices. That’s what so many people remember, and what they worry will happen again.
But while construction has been picking back up since roughly 2012, we’re not headed for a repeat of the same mistakes. The latest data available shows builders are actually starting construction on fewer homes right now (the green arrow in the graph below):
New data from the National Association of Home Builders (NAHB) confirms that trend. It shows that single-family building permits have fallen for eight straight months.
The Slowdown Isn’t Random, It’s Intentional
Basically, builders are watching and reacting to today’s economic conditions and buyer demand in real time. And they’re pumping the brakes on their pipelines to avoid getting caught with too much unsold inventory. As Ali Wolf, Chief Economist at Zonda, says:
“. . . builders are still working through their backlog of inventory but are more cautious with new starts.”
That’s a big contrast to what happened before the housing crash, when overconfidence led to record-breaking levels of new home construction – even as demand was dropping. Today’s builders aren’t overconfident. They’re listening to the market and adjusting before things get out of balance.
The Regional Picture Tells the Same Story
And while inventory is going to vary a lot based on where you live, if you zoom out and look at regional data, the pattern holds almost everywhere (see graph below):
NAHB reports single-family permits are down in nearly every part of the country, with just one region showing a slight uptick. And even there, the growth is so small, it’s practically flat.
Why This Isn’t 2008 All Over Again
In the lead up to the crash, builders kept building long after demand had disappeared. This time, they’re slowing down early, and that’s a good thing.
The market actually needs more homes after years of underbuilding. But builders are making sure they don’t have to overcorrect. They’re being intentional about how many homes they’re building right now.
So yes, you’re seeing more new homes for sale today, but that doesn’t mean we’re oversupplied nationally. It means buyers finally have more options, and builders are pacing themselves to keep things in check. They’re not going to flood the market. And that’s a really good thing for housing overall.
Bottom Line
Seeing more new homes for sale doesn’t mean builders are overdoing it. Since building permits have been declining for eight straight months, it’s clear this isn’t an out-of-control boom. It’s a measured recovery.
If you want to know more about what builders are doing in your area, connect with a local agent.
