With rising inventory in an area, can you negotiate the base price with new-home builders?

You can negotiate anything, but builders defend the advertised base price and give ground on incentives instead. There is a reason for that. The base price sets the comps for the surrounding area and for future phases of the same development, so dropping the sticker on your home lowers the value of every home the builder still has to sell. The real room is usually in the concessions: - Closing-cost credits - A builder-paid rate buydown - Upgrades included at no charge When inventory is sitting and a builder needs to move homes, expect them to get aggressive on incentives long before they touch the headline number. One caveat from us: a credit is given in lieu of a lower price, so it is still your money, just moved around. Use it well, and if the concession package gets unusually large, ask whether the price itself is padded. Ask for everything, price included, but focus your leverage on the concessions that put real money back in your pocket. And get a buyer's agent involved, because builder incentives are negotiable and easy to leave on the table when you deal with the sales office alone.