In the preceding verses, the Apostle Peter says, “Speaking evil of you who shall give an account to Him that is ready to judge the quick and the dead.” From these words it is manifest that he is addressing the followers of Christ who have become dead to the things of the world and alive to the heavenly or spiritual things. 

Peter continues with this thought, saying that it is for this reason (because we who are dead to the world and alive toward God are being called out now, as the Lord’s elect class, therefore) the gospel is preached to us who are judges as in the flesh, like all other men, the Lord may judge us in the spirit, begotten to a newness of life. These spiritual “new creatures” have their judgment time in this present life and are judged in the flesh with its weakness and blemishes inherited from Adam.

Additional Resource:
Christian Questions Podcast
Episode #1324: “What Is the New Creation?”
The profound results of God creating something never seen before
Preview Video
CQ Rewind Show Notes