Builders in several U.S. metros are delivering significant new-construction inventory priced to reflect local demand, increasing buyer access to affordable, recently built homes. In some metros nearly half of for-sale listings are new construction, and new homes are often sold at or below the cost of existing homes. Fayetteville led with newly built homes accounting for over 40% of listings, while Boise had more than half of listings as new construction. Other notable markets include Nashville, Austin, McAllen, Portland (Maine), and Madison (Wisconsin). Strong job markets, builder investment, zoning reform and streamlined permitting are converging to boost supply and affordability.
Our top metros for new construction are places where builders are delivering much-needed inventory at price points that reflect local demand, said Danielle Hale, chief economist at Realtor.com. With nearly half of the for-sale homes in some of these metros being new construction, and often being sold at or below the cost of existing homes, buyers in these areas have a real chance to find homeownership with high-quality, newly built homes at prices they can afford.
Fayetteville topped the list as newly built homes, which were priced below the median for existing homes, accounted for more than 40% of for-sale listings. New homes accounted for more than half of listings in second-ranked Boise. Other top markets including Nashville, Austin and McAllen also saw strong inventories of new homes often priced competitively with older properties.
Our data shows that strong local job markets, builder investment and affordability are converging in these metros to create opportunity, said Joel Berner, senior economist at Realtor.com. When communities reduce zoning barriers and support sustainable building practices, it's a win for affordability, livability and long-term resilience. These are the places helping to close the gap between supply and demand, and giving families a shot at the American dream.
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