Newly Built Home Prices Hit a 5-Year Low
Posted by Exit Realty on
If you’ve always assumed a newly built home is just not in your budget, you should know the math just got a little friendlier.
The median sale price of a newly built home is now at its lowest level since 2021, according to the latest data from the Census. And on top of that, builders are still rolling out incentives to bring buyers through the door.
Here’s what’s happening, and what it means if you’re shopping right now.
Prices on Newly Built Homes Have Come Down
After a steep climb during the pandemic years, prices have eased a bit. The median sale price of newly built homes, is sitting at about $390,000. That’s the lowest it’s been in nearly five years (see graph below):
While local markets vary, the national trend is moving in your…
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