Homebuyers Enjoy Big Savings in These Metro Areas

New homes nationwide sell at a median of $205 per square foot, below the $212 median for existing homes, with discounts reaching nearly 20% in some Sun Belt cities due to higher new-home supply. In Austin, new homes are 19% cheaper per square foot, 14% cheaper in Raleigh and San Diego, and 12% cheaper in Tampa. In contrast, new homes in markets with less new construction, like New York City and Cleveland, sell at significant premiums.