MCLENNAN COUNTY, Texas (KXXV) — Texans are purchasing newly constructed homes at twice the national average, according to a new report from Texas Realtors, as builders continue to meet growing demand across the state.
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The report found that 30% of Texas homebuyers chose new construction between July 2023 to June 2024, higher than the national average.
Local real estate professionals say this trend is reflected in McLennan County, where new home construction has increased nearly 20% in the last 90 days according to the county's Multiple Listing Service.
"Believe it or not, we're still in need of homes, so builders are definitely building," Mercedes Lane, a local realtor, said.
Cameron Gomez with Agents of Texas said homebuyers are drawn to new construction because builders can offer more incentives than existing home sellers.
"Home buyers are going towards these new construction homes because these builders just can offer so much more than what a typical home seller can," Gomez said.
The appeal extends beyond just availability.
Lane explained that new builds are offering attractive incentives, including low interest rates, covered closing costs, appliances and warranties.
"Being the first one to be inside of that home is huge, especially for first-time home buyers, getting something that's fresh, something that's more of them, as opposed to, starting and recreating something that was already there before," Lane said.
However, realtors say some prefer to buy an existing home to be in an established neighborhood and know the reliability of the house.
Gomez noted the new construction trend is visible throughout McLennan County as developers recognize growing demand.
"You're seeing where these acreages have just been vacant for years and years, developers are coming in because they know that the traffic is coming to McLennan County," Gomez said.
The Texas Realtors report also highlighted another significant trend: multigenerational home purchases.
Nearly 24% of Texas buyers said they would share their home with adult children, adult siblings, parents or grandparents. This represents a record high both in Texas and nationally.
"They buy something bigger together somewhere else. We're seeing a lot of those generations wanting to come together and a lot of like those mother-in-law suites, ADU properties, being highly desired more than what we did maybe like 5-6 years ago," Gomez said.
However, the report noted challenges in the housing market. First-time home purchases are down both in Texas and across the country, while the age of homebuyers continues to rise, hitting record highs.
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