Lately, there’s been a noticeable shift in home values across the country: newly built homes are now selling for a median of $205 per square foot, while existing homes are at $212. For the first time in years, new construction is becoming the better value in about a third of major US markets. Builders are responding to increased competition by adjusting prices and offering more incentives—especially in areas where construction has ramped up and inventory is plentiful. If you’re considering your next move, it’s worth taking a closer look at new homes, particularly in markets where negotiating has gotten easier. As someone who bridges both real estate and construction, I see firsthand how more inventory can open up new opportunities for buyers, although it’s important to keep an eye on permitting trends, which could slow progress on affordability.
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