📈Surge in new home construction inventory leads to higher active inventory levels.
📉Mortgage interest rates dropping, but rate buy downs are ineffective as a sales tactic.
💰Builders offering price reductions and incentives to attract buyers.
🏠Buyers should prioritize incentives and price reductions over rate buy down offers.
⬇️October saw a decline in sales and pricing in the real estate market.
What is the current trend in new home construction inventory?
—There is a surge in new home construction inventory, resulting in higher levels of active inventory.
Have mortgage interest rates dropped?
—Yes, mortgage interest rates have dropped, but rate buy downs are not effective sales tactics.
What strategies are builders using to attract buyers?
—Builders are offering price reductions and incentives to attract buyers.
What should buyers prioritize over rate buy downs?
—Buyers should prioritize incentives and price reductions offered by builders.
What happened in the real estate market in October?
—October experienced a decline in sales and pricing.
00:01[Music] Welcome to Sax Roy's Tuesday night podcast where we discuss the future of real estate.
03:30Buyers should prioritize incentives and price reductions over rate buy downs.
08:18Builders are offering price reductions and incentives to attract buyers.
09:59October saw a decline in sales and pricing in the real estate market.
