The price gap between new and existing homes remains narrow in 2025, as a new home was $14,600 more than an existing one, according to a National Association of Home Builders’ analysis of data from the U.S. Census Bureau.
The median price for a new single-family home sold during the first quarter of 2025 was $416,900, compared with $402,300 for an existing one.
The price gap has significantly decreased since the fourth quarter of 2022 peak, when new homes were $64,200 higher than existing homes.
New-home prices have declined year over year for eight consecutive quarters. In the first quarter of 2025, the median new-home price dropped 2.32% compared with the first quarter of 2024. Prices for existing homes have risen for seven straight quarters, increasing 3.38% year over year.
Read the full report here.
