New Homes Now Cost Less Than Existing Homes — a Historic Inversion

New construction now sells below resale prices, reversing the usual builder premium, Straight Arrow News reported in August 2025. Builders are offering mortgage rate buydowns and closing-cost coverage — concessions resale sellers can't match. With NAHB data showing nearly 4 in 10 builders still cutting prices at 6% through July 2026, the inversion persists, pressuring existing-home values and compressing resale volumes.