New home prices are about to drop BELOW existing home prices...
New home prices are about to drop BELOW existing home prices for the first time since 2005.
The median new home price unexpectedly fell to $400,500 in February, down 7.6% over the last year.
This is the lowest median new home price since June 2021.
Meanwhile, the median existing home price jumped to $384,500 in February.
Supply of new homes is at its highest since October 2022 while existing home supply remains historically low.
You know something is wrong when new is about to be cheaper than old.
The median new home price unexpectedly fell to $400,500 in February, down 7.6% over the last year.
This is the lowest median new home price since June 2021.
Meanwhile, the median existing home price jumped to $384,500 in February.
Supply of new homes is at its highest since October 2022 while existing home supply remains historically low.
You know something is wrong when new is about to be cheaper than old.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
