At the end of December, the median listing price for new-construction homes in the U.S. has marginally decreased, especially benefitting buyers in the South and West. In 2024, over one million single-family homes were completed, leading to a decrease in the average listing price to $449,967. Buyers saw a significant reduction in the premium for new homes, which fell to the lowest level in four years. Inventory levels for new homes remained strong, with new listings comprising over 18% of the total market, as builders adapt to meet demand with smaller, more affordable homes.
Newly built homes are becoming smaller and more affordable, as builders work to chip away at the supply gap that has plagued the United States since the Great Recession.
Buyers were paying a 13.7% premium for newly constructed homes between October and end of December—the lowest fourth-quarter premium in four years.
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