New-home price premiums hit a record-low 10.2% as builders aggressively narrow gaps with existing homes.
New-construction buyers benefited from significantly lower mortgage costs than existing-home buyers.
New-home down payments averaged 15.7%, below existing buyers’ 17.8%, reducing upfront cash needs.
New-home prices held at $451,337 while existing homes rose to $409,667, widening size-adjusted advantages.
New construction represented 16.7% of listings, with 15.1% seeing price reductions, an all-time high.
