Why You May Want To Seriously Consider a Newly Built Home in Los Angeles and Beverly Hills
Why You May Want To Seriously Consider a Newly Built Home in Los Angeles and Beverly Hills | Christophe Choo at Coldwell Banker Global Luxury is Your Local Real Estate Expert
Are you hesitant to sell your current home in Los Angeles or Beverly Hills because you're unsure about finding your next dream home in these exclusive neighborhoods? It's time to consider the appeal and benefits of a newly built home in these prestigious areas.
Surge in New Home Inventory in Los Angeles and Beverly Hills The trend towards newly built homes is particularly noticeable in Los Angeles and Beverly Hills. According to a recent report from the National Association of Home Builders (NAHB):
“In areas like Los Angeles and Beverly Hills, newly built homes account for a significant portion of the market, far exceeding historical averages.”
This surge in new construction reflects the unique demand for modern, luxurious living spaces in LA's top neighborhoods.
Impact of Housing Starts and Completions in LA's Prime Locations The Census data shows an increase in housing starts and completions, signaling a robust addition to the housing market in Los Angeles and Beverly Hills. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), notes:
“The rise in home construction is a positive trend, especially in high-demand areas like Los Angeles and Beverly Hills, where luxury and modern living are in constant demand.”
Advantages for Home Buyers in Los Angeles and Beverly Hills The increase in new-home construction in LA and Beverly Hills provides potential buyers with more options. Imagine living in a brand-new property, with the latest designs, smart home technologies, and eco-friendly features. Newly built homes in these areas often include state-of-the-art amenities and are designed with the sophisticated buyer in mind.
Moreover, builders in Los Angeles and Beverly Hills are now offering incentives like mortgage rate buy-downs, making these luxurious homes more accessible. Patrick Duffy, Senior Real Estate Economist at U.S. News, highlights:
“Builders in high-end markets like Beverly Hills and Los Angeles are increasingly offering mortgage rate buy-downs, making luxury homes more attainable.”
Navigating the Purchase of New Construction in LA and Beverly Hills Buying a newly built home in Los Angeles or Beverly Hills is a unique process. It's crucial to work with a real estate agent who has specific expertise in these areas. An experienced agent will guide you through coordinating with builders, understanding local market trends, and handling contracts.
Bottom Line If you're planning to sell in Los Angeles or Beverly Hills and are exploring your options, consider the exciting opportunities that newly built homes offer. Connect with a local real estate expert to discover the latest in luxury living and find your perfect new home in these world-renowned neighborhoods.