New Homes Cost Less Than Existing Homes in One-Third of U.S. Markets

Newly built homes are selling for less per square foot than existing properties across much of the U.S., a reversal that is reshaping the affordability equation for buyers and giving builders more leverage to compete on price. The median price of a newly built home was $205 a square foot nationally as of July, compared with $212 for existing homes, according to a Zillow analysis. New homes are now priced...

U.S. New-Home Sales Uptick in August, Affordability Remains a Drag

Sales of new U.S. homes rebounded in August, helped by a stronger showing from builders, but the increase did little to change a housing market still constrained by high borrowing costs and affordability pressures. Sales of newly built single-family homes rose 6.4% from July to a seasonally adjusted annual rate of 684,000, according to data released by the U.S. Census Bureau and Department of Housing and...

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