Today, I want to share some fascinating trends in the new construction market that could present opportunities for Utah homebuyers.

Table of Contents

• The New Construction Landscape

• What This Means For You

• Regional Differences Matter

• New Construction in Utah

• Your Opportunity: Act Now

The New Construction Landscape

The latest data shows that unsold completed new single-family homes have reached 115,000 units as of January 2025—the highest level since July 2009. This represents a significant increase from previous years:

• January 2021: 40,000 units

• January 2022: 32,000 units

• January 2023: 68,000 units

• January 2024: 83,000 units

• January 2025: 115,000 units

What This Means For You

This increasing inventory creates potential buying opportunities, particularly in certain regions. While the market isn't experiencing the same level of oversupply as during the Great Financial Crisis, there's definitely more "slack" in the new construction market compared to the past two years.

Regional Differences Matter

The majority of this unsold inventory appears to be concentrated in the South, particularly in the Gulf region. Markets like Tampa, Punta Gorda, and San Antonio are seeing higher levels of available homes. In these areas, builders are increasingly willing to offer:

• Price reductions

• Enhanced buyer incentives

• Financing concessions

Meanwhile, inventory remains tight across much of the Midwest, Northeast, and Southern California, giving builders in those regions greater pricing power.

New Construction in Utah

Total inventory levels are still hovering slightly below 2019 levels in most of Utah. This is partly why we’re not seeing the large price declines that Texas and Florida have been seeing for the past several years (although it depends on your zip code).

From my experience however, we are seeing an increase of unsold new construction. Keep in mind, even with inventory levels still below 2019 levels, builders are often more eager to sell their new builds due to expensive holding costs. This is leading to local builders offering great deals such as buying down your interest rate, dramatically reducing monthly payments, and offering to pay tens of thousands of dollars towards buyer closing costs.

Your Opportunity: Act Now

If you've been considering a new construction home, this could be an ideal time to explore your options. Builders facing pressure to move completed homes are more motivated to negotiate.

Whether you’re looking to purchase a new construction home, or you’re looking to sell your home this season and simply want to know how to position your home as the obvious choice among buyers, I am here to help. Let me know by responding to this email or give me a quick call.

Here to serve,