There are two paths you can take in a changing new-home sales market, but only one of them will help you succeed during a slowdown

First-time buyers have traditionally strayed from new-construction homes in favor of more affordable existing houses, but buying new also offers a number of can't-miss benefits

As homebuyer demand wavered in the final quarter of 2022, sellers were forced to make concessions and slash their listing prices

Home sales slowed at a rapid pace in November as soaring mortgage rates continued to price out prospective buyers

Rattled by soaring inflation, a turbulent economy, and a major pullback from would-be buyers, the 2022 housing market was nothing short of extraordinary

New-home sales inched higher in November after posting little to no growth throughout much of 2022, but an ongoing affordability crisis is keeping most would-be buyers glued to the sidelines

Rising interest rates are causing would-be buyers to back out of the for-sale market, and that waning demand is leaving homes on the market for nearly a week longer than a year ago

The housing market is rebalancing after a competitive period of low interest rates, huge buyer demand, and competitive home prices

But the National Association of Home Builders attributes these affordability shifts to changes in the composition of prospective buyers rather than increase in overall affordability