New home sales rebound as builders chase buyers’ budgets
According to Williamson, 52% of August sales were priced below $400,000, up from 46% a year earlier. Another 74% came in under $500,000, compared with 65% a year earlier.
“Some of that change reflects builder discounts, but product mix is also playing an important role as builders construct and sell smaller homes,” he said.
New homes have now been cheaper than existing homes for six straight months. Williamson put the gap at $35,400.
Meanwhile, the resale market slowed: the National Association of Realtors (NAR) reported that existing-home sales fell 2% in August to a 3.98 million annual pace.
What builder sentiment means for broker pipelines
The rebound came even as financing got more expensive. The 30-year fixed rate averaged 6.95% last week, its highest level since January 2025, according to Freddie Mac.
