A Look at Home Builder Incentives

clipped from blogs.wsj.com Last month, 29.8% fewer new homes sold than in February 2007, with the level of new homes sold hitting a 13-year low, Jeff Bater reports in today’s Journal. The sales level was down 1.8% from January. Meanwhile, the median home price fell 2.7% to $244,100, from $250,800 in February 2007. The Los Angeles Times reports that California builders are offering steep discounts to unload inventory Bloomberg.com says several builders across the U.S. are holding new-home auctions this month in an attempt to sell off inventory. At NewHomeGuide.com, we found Bella Vista-Sal Lapio Homes in the Philadelphia area offering a “free sunroom” – which the Web site says is a $20,000 value Ryan Homes says they will include a morning room and a finished basement. Readers, for those of you who are in the market for a house, do incentives like these make you more apt to opt for new home over a resale? — Lauren Baier Kim