Bringing together new construction homebuilders and potential homebuyers, the NewHomesMate platform eliminates pain points from the new construction buying process in one of the United States’ most underserved property markets.
AUSTIN, Texas–(BUSINESS WIRE)–#NewHomesMate—NewHomesMate, a proptech startup that has simplified the buying process of new construction homes through its streamlined property marketplace platform, has today announced that Atlanta, Georgia, will join the growing number of US cities it serves.
The expansion will assist homebuyers searching for properties in one of the United States’ most challenging housing markets. With the city’s population having grown by almost two million since 2005, current estimates suggest a shortage of up to 350,000 homes. This issue is exacerbated by current mortgage rates — the highest level they have reached in over two decades — which put off those with low-rate mortgages from listing their properties on the market.
New construction homes are alleviating some of this pressure, with Atlanta among the United States’ top five cities for new homes built so far in 2023. Likewise, data suggests that nearly a third of all homes sold in the metro Atlanta area in recent months were newly constructed. Yet, finding these properties can be challenging for homebuyers. For instance, 89% of new construction homes are not listed on a Multiple Listing Service (MLS). Even when homebuyers find a suitable property, they face competing against multiple interested parties with bidding wars and inflated values a common part of the process. However, with the ability to browse new construction homes through the intuitive NewHomesMate platform as they come on the market, those in Atlanta can now avoid many of the pitfalls of homebuying, improving their chances of securing their new dream home.
For homebuilders in Atlanta, NewHomesMate will help to improve the property marketing process. Providing 82% of referrals, developers are currently heavily reliant on brokers, despite their lack of expertise in the new construction home market, which makes up just 12% of their business.
Operating in 13 markets with up to 97% of the available new home stock listed, NewHomesMate has already assisted over 29,000 buyers in their search. Averaging a take rate of 2.06%, the platform has generated over $79.5m in sales for the growing number of leading homebuilders that utilize it — including the big three of D.R. Horton, Lennar, and PulteGroup.
NewHomesMate is a property marketplace that supports homebuyers in finding, comparing, and buying new construction homes. NewHomesMate works with many of the country’s leading homebuilders, including D. R. Horton Lennar, PulteGroup, Brookfield Residential, and KB Home; to serve 13 of the United States’ most challenging property markets.