New homes now cost less than existing ones in one-third of major markets
A new Zillow analysis finds that newly built homes sell for a median of $205 per square foot nationally, below the $212 median for existing homes. Many markets with the biggest new-home discounts—up to 19% less—are high-supply Sun Belt metros like Austin, Raleigh and Tampa.
Why it matters — This research highlights Zillow's analytical capabilities in tracking housing market trends across major metros.