United Press International - NewsTrack - Home builders try extras to lure customers
The evidence is mounting that the new housing market is maxed out, and we already know that resales are softer than a few months ago.
WASHINGTON, Dec. 31 (UPI) -- A glut in homes for sale is prompting Washington, D.C.-area home builders to offer extras to snag customers. Daniel Oppenheim, an analyst with Banc of America Securities, said he's seen freebies worth up to 5 percent of a sales price. That includes kitchen upgrades, interest rate locks and coverage of closing costs or mortgage payments. There are more than twice the number of homes for sale this year than last.