The gap in prices between new and existing homes narrowed in the first quarter of the year, driven by factors such as tight inventory and elevated mortgage rates, the National Association of Home Builders (NAHB) said in a June 2 statement.
“The median price for a new single-family home sold in the first quarter of 2025 was $416,900, only $14,600 above the existing home sale price of $402,300,” NAHB said.
“The average difference over the last five years was $26,700, while the decade prior (2010-2019) saw a much wider gap of $66,000.”
Supplies of existing homes have tightened, pushing up their prices and contributing to narrowing the gap with new homes, according to the statement….