Overview
- In Q3 2025, new-construction buyers averaged a 5.27% mortgage rate versus 6.26% for existing-home buyers, a 99-basis-point advantage.
- New-home purchasers put down an average 15.7% versus 17.8% for existing homes, bringing monthly payments for new builds to roughly $30 higher despite larger list prices.
- Nationwide, 15.1% of new-home listings saw price cuts, the highest share on record in Realtor.com's data.
- Median listing prices were $451,337 for new construction (flat year over year) and $409,667 for existing homes (up 1.6%).
- Pricing flexibility and incentives are strongest in the South and West, while the Northeast and Midwest continue to price new homes as a premium product.