Photo: Avi Werde / Unsplash. Illustrative stock photograph; not a property or company discussed in this article. Builders have quietly flipped one of housing's oldest rules: brand-new is now the cheaper option. Newly built homes sold at a seasonally adjusted annual pace of 676,000 in September, according to Census Bureau data reported by RealEstateNews.com. That was down 0.6% from August and 5.3% from a year earlier. It still beat forecasts. Analysts had expected about 653,000, according to MarketWatch's calendar. The…
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New Homes Now Cost Less Than Used Ones. It Has Been That Way for Seven Months.
September's median new-home price was $400,400, below the $417,500 existing-home median, as builders used smaller floor plans, incentives and price cuts.
