New homes now cost less than existing ones in one-third of major markets
PR Newswire•29/09/2026•08:00 ET
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Key Highlights
- ➤New homes $205 per square foot nationally, below existing homes’ $212 median
- ➤Austin (ZG) new homes carry 19.3% price-per-square-foot discount
- ➤Raleigh (ZG) new homes carry 14.4% price-per-square-foot discount
- ➤New homes comprise 12.6% of U.S. home sales over past year
- ➤New-home supply reaches 9.6 months in July 2026, up from 7.6 months
Expert Statements
Kara Ng, Senior economist at Zillow
“New homes are the overlooked opportunity more buyers should be thinking about. Buyers who assume new homes are out of their price range may be surprised at what they find.”
Kara Ng, Senior economist at Zillow
“Where the most new homes have been built, buyers are in the best position to negotiate as sellers have a lot of other homes on the market to compete with. We often preach letting America build its way out of the affordability crisis, and these friendlier conditions are the payoff.”
New homes now cost less than existing ones in one-third of major markets PR Newswire
Sun Belt markets where building has boomed account for most of the markets where new construction offers the best value per square foot
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