Yes, and over 75% of those sales are with agent involvment!

It is very major and represent 25-30% of our inventory.

Yes. Builders have returned with a vengeance. So far, it is good for resale as their prices are usually higher due to labor costs.

New construction is pretty important in our market.    With resales nearby, you have to let your sellers know buyers USUALLY want a new home before a resale. 

Absolutely and has been for a very long time. Even during the down market it was a factor. I don't overly account for new construction when pricing a resale home as I've found that the new construction buyers won't often even look at a resale home. They are committed to new construction. Also, these days a buyer has to be able to wait 6-8 months to have a home delivered. If I've got a listing in a community that's not yet built out and the seller is competing with the builder, clearly we have to give a buyer an incentive to buy the resale. Then again, there are lots of buyers who need a home in 45 days not 6-8 months... so the adjustment in asking price is not huge.

Good morning David. No major new home construction, a few individual custom built homes.

The Greater Toronto Area has continued to have a substantial amount of new construction for quite a few years.  In fact, over the past several years, we have had more construction cranes in operation than another other city in North America, including New York City and Miami.

We have a new condo complex being built (on quicksand) and a huge new housing development down the street from a property my investors have.  It is impacting their designs and their price (although in a good way).

Not at all. 

It is in the condo market.

New construction is gaining ground here, because there are no homes that the Buyers ike, so they are having them built to fill their wants.

Not yet but it will be more of an issue this spring

New construction is coming on.  There are more out than before.  I wish there were more starter home construction, but there must not be any money in it.  

Not since the crash a couple of years ago.

We have a shortage of new homes due to the length of time to get permits on large developments

Not here in Erie, PA

Yes. We have a very strong economic base and major builders are very active in the area. The new homes are usually priced higher than the resales.

No, not a major factor.  When pricing resale listings, it's a good idea to kook at any new construction and be aware of the potential competition and at what price point.

It is, wish the builders could biult faster that we would have some inventory.

Major factor? No, but a factor and it is selling quickly, before models are even built. There is limited land left for large scale developments close to the coast

Not too much so when it is available buyers get excited

The North Shore area of Chicago does not have new construction "planned" communities.  There is no land left and we're up against the lake.  However, we do have a lot of new construction.  Older homes (some historic) have been torn down in great numbers to make way for new homes.  They are popular - buyers love them.

Not a major impact in my market. Most of the new construction I am working with is out of the area ... clients buying in areas that are more affordable.

Not major, but it is a factor. Resales competing with new construction in same or nearby comunity is always tough.

David,
There is a fair amount of new construction here but it is well above our median market price. It is a major factor if a resale is competing with a builder.

There are lots of new home communities near me.  Typically there are enough resale properties that I don't need to use new construction as comps.

Yes, new construction is growing rapidly in the North Fort Worth area and moving out towards the country.  In neighborhoods these homes are priced accordingly and selling quickly. 

Valencia, California is a preplanned community that began selling new home way back in 1976.  The area was owned and built by the Newhall Family and their company Newhall Land and Farm.  They sold to Lennar a few years ago.  The land is nearly built out and they are now selling the last communities in the preplanned community of Valencia.  They are in the process of building a new project called Newhall Ranch.  We will have new homes to sell for many years to come.  All of the homes are proposed to have a mello roos bond which is also called CFD.

New Homes aren't used as a comparable sale in most cases for several reasons. A new home is priced to sell quickly since they need to sell in order to keep building.  Also a new home may have sold up to 6 months prior to closing so the present sales price doesn't reflect the current market.  New Homes also pay incentives and their Appraisal might just be a Rubber Stamp since their choice of lenders does most of the loans.  We may use them to get an idea of value should there be no other sales of comparable homes though.

It has been increasing in our market in past 2 years, happily. And sellers of resales have to be very competitive overall with spec homes especially.

New construction is a great way to get into the market.  The desireable areas are how ever fully developed.  

I work mostly in east Dallas.  Not much new construction there.

Yes it is, but in a peculiar way.

Most new constuction that will be availble early summer is for RENTALS!

The buyers are realizing it will not be better for them to wait for summer.

 Yes. And builders are throwing them up like a cat throws up a furball. Almost the same consistency as well.

Nope.  We are in much older part of country and real estate is at a premium.  There isn't much room for new construction.  But sometimes, yes, in the wealthy areas, people will buy for the property/location and tear down a small home and build a bigger one...or often add an additional floor or wing.

There is more new construction when you go 1 county north (and further from NYC).

It is easy to find comps for the resales.