Bucking national trend, new homes still cost more than existing homes in Houston

Across the U.S., new homes now sell for a median of $205 per square foot, slightly less than existing homes at $212. In Houston, new homes cost $164 per square foot, $3 more than existing homes. Nationally, new homes have sold at a discount compared to existing homes in 17 of the past 19 months. The largest discounts are in Austin, Raleigh, and Tampa, while new homes remain pricier in New York, Cleveland, and Detroit.