New Construction Home Builders in Port St. Lucie, Florida Reacting to Low Buyer Demand
November 2, 2022
Port St. Lucie is one of the fastest growing cities in Florida over the more recent years. As families continue to move to the area, the demand has increased for new construction homes. However, since the Fed continues to increase the interest rates to curve inflation, there has been a slowdown in buyer demand.
Not only are sellers feeling it, but also new construction home builders. Where it was almost impossible to find a move-in ready home just a few months ago, there are now new homes available all throughout the city of Port St Lucie and Tradition communities. And in order to sell these brand new homes, the builders have to get savvy with their incentives. So here are some options local builders are offering to entice customers to buy a home:
- Discounting the purchase price. Some builders are reducing the price by $10,000 plus and ADDITIONAL $10,000 if the home is near completion.
- Accepting offers. Thats right. You can now put in your offer on a new construction home and see if the builder will accept.
- Locked In Interest Rate. If you use the builder's preferred lender, you can get a locked in interest rate without the worry of the rate creeping up higher by the time you close on the new home.
- Money to buy down the interest rate. Lenders are offering up to $10,000 to buy down the interest rate.
- Closing Cost Assistance. This is a popular incentive in general, but builders are paying all closing costs (minus prepaids and title insurance fees).
- HOA fees covered. There are some 55+ active adult communities offering to pay one full year of HOA fees if lock in a contract by a certain time.
- Discounts off design upgrades. Certain builders in communities are taking 50% off design upgrades.
As you can see, these are major incentives being offered that you would not have seen just a short year ago. If you want to take advantage of these incentives, reach out to the Huber Real Estate Group of Florida by calling 772-301-8524. We are your trusted Realtors who keep up to date with the real estate market and happenings on the Treasure Coast. Having an agent represent you can allow you to find the best deals for you and negotiate with the builder for you.
Watch the video below to take a tour of a popular breakfast spot for St Lucie residents as well as a new construction home tour that will tell you all about the incentives being offered.
Search new construction homes available for sale at The Huber Group.