Why New Homes Don't Sell

A shift in consumer psychology has also hurt new home sales. Pre-recession, buyers expected high-end appliances and fancy countertops, and builders delivered. Now consumers are more enthusiastic about a home that’s easier and cheaper to maintain, says Vogel. For many buyers, that even includes smaller rooms – a rarity in homes built during the real estate boom – that are more affordable to heat or cool. More buyers are also looking to live in or near a city – where relatively fewer new homes exist – to be closer to their job and to spend less on gasoline costs.

Read more: Buyers Shun New Homes – SmartMoney.com http://www.smartmoney.com/personal-finance/real-estate/buyers-shun-new-homes-1301521568482/#ixzz1JmlBjc31