According to the National Association of Home Builders, builders emphasize the scarcity of listings in the resale market, which grants them a significant advantage. Despite national average interest rates exceeding 7%, prospective buyers exhibit a strong preference for new homes.

Just a friendly reminder, if your mortgage rate is 6.5%, your monthly payment will be 30% higher compared to the same mortgage at a rate of 3.5%. However, if the rate is 5.0%, your payment will only be 15% higher.

It’s Thursday, which means that tomorrow is Friday heading into the three day weekend.