According to new analysis from the National Association of Home Builders (NAHB), an unusual trend continues to emerge in the housing market: new homes are less expensive than existing ones. While only a small gap, Q1 2026 reported the median price for  a new single-family home was $403,200, compared to an existing home at  $404,600.
The relationship switched in the post-pandemic market with slow construction for new-builds and pandemic purchasers holding on to their low mortgage rates. Although, there are extreme regional pricing gaps across the U.S. In the South, existing and new homes hover around the same median price at $362,500 and $361,800, respectively. The difference is the most apparent in the Northeast with a near $300,000 divide between new ($815,600) and existing homes ($506,400).
There are varying insights for remodelers on existing homes: buyers with a now tighter budget or checkbooks prepared for larger investments.
“Additionally, there has been a shift in home building toward the South, associated with less expensive homes because of policy effects,” said Onnah Dereski, manager of Economic Services at NAHB. ” This has occurred in an environment in which construction costs continue to rise, which is the fundamental driver of home prices.”
Graphic Credit: NAHB
