Real Estate

New houses are still more expensive than existing homes, despite what data says

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A sold sign in front of a new home being built on April 16, 2021 in Miami, Florida.

Joe Raedle | Getty Images

A strange and exciting anomaly surfaced in March housing data. The median price of a newly built home was slightly lower than the median price of an existing home sold that month. That hasn’t happened in more than 15 years. 

“Finally!” you might be thinking. “I can buy a brand-new, pristine home for less than an old one!”

Not quite. 

The national median price of a newly built, single-family home sold in March was $330,800, according to the U.S. Census. The national median price of an existing, single-family home sold in March was $334,500, according to the National Association of…



Source cnbc.com

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