If you’ve been house hunting lately in the Salt Lake City area, you might feel like you're stuck seeing the same types of homes again and again. Maybe the layout feels awkward, or the updates are 20 years behind. Whatever the case, it’s tough to find “the one” at a price that makes sense.

That’s why more buyers are taking a closer look at new construction homes — and thanks to strong builder incentives, there are some incredible deals on the table right now.

What Are Builder Incentives?

Builder incentives are perks or financial benefits that homebuilders offer to attract buyers. These can include:

- Price reductions

- Interest rate buydowns

- Closing cost assistance

- Upgraded features or appliances at no extra charge

Think of them as builder bonuses designed to make new homes more affordable and appealing.

Why Builders Are Offering Big Incentives Right Now

Many builders in Salt Lake and across the country are sitting on a higher-than-normal inventory of completed homes. These homes are fully built and move-in ready, but they haven’t sold yet. That puts pressure on builders to act fast before starting the next round of builds.

As Lance Lambert, Co-Founder of ResiClub, explained:

“In housing markets where unsold completed inventory has built up, many homebuilders have pulled back on their spec builds—and many are doing bigger incentives or outright price cuts to move unsold inventory.”

In other words, if a builder has too many homes just sitting there, they’ll do what it takes to move them, and that can work in your favor.

Builder Incentives Are the Highest in 5 Years

According to the National Association of Home Builders (NAHB), a whopping 66% of builders were offering sales incentives as of August — the highest level in five years.

That means 2 out of every 3 builders are currently offering sweeteners to get deals done.

And it’s not just fluff — these incentives can lead to major savings.

Price Cuts Are Back (and They’re Significant)

Nearly 40% of builders are slashing prices to attract buyers.

On average, that discount is around 5% off the purchase price. For example:

- A $500,000 home with a 5% price cut saves you $25,000

- That kind of savings can be the difference between “just okay” and your dream home

Even if a builder isn’t cutting prices, they may be offering incentives like:

- Lower mortgage rates through rate buydowns

- Thousands in closing cost credits

- Free upgrades like smart home tech or premium finishes

As Realtor.com recently noted:

“There are deals to be found in the market for new homes, with builders increasingly willing to negotiate on price or offer incentives such as rate buydowns and closing cost assistance.”

Why Buyers in Salt Lake City Should Pay Attention

With affordability still top of mind for many Utah homebuyers, these builder incentives are helping people stretch their budgets further. And the best part? New construction often includes features that make life easier and more comfortable from day one:

- Open-concept layouts and larger kitchens

- Energy-efficient appliances and insulation (hello lower utility bills)

- Smart home features like security, lighting, and thermostat controls

- Fewer surprises — everything is brand new and under warranty

For many, this means fewer headaches and a smoother transition into homeownership.

Pro Tip: Bring Your Own Real Estate Agent

Here’s the truth most people don’t realize: builder representatives work for the builder, not for you.

That’s why it’s smart to bring your own agent when you’re exploring new construction. Your agent will:

- Review the builder incentives and spot which ones are truly valuable

- Help negotiate better terms — yes, even on “non-negotiable” pricing

- Protect your interests from contract to close

- Provide a reality check on the numbers and the neighborhood

It costs you nothing extra, and it could save you thousands.

Bottom Line: Now’s the Time to Take Advantage of Builder Incentives

If you haven’t found your perfect home in the resale market, don’t overlook new builds. Right now, builder incentives are at their highest levels in years, and local builders are motivated to move inventory.

That means more buying power for you — and possibly a brand-new home that checks every box.

Want to Know What Builder Incentives Are Available in Salt Lake City?

Let’s connect and explore what builders in your area are offering right now. With the right strategy (and the right agent), you could get more house for your money — without the stress of a bidding war.