In 17 US cities, new homes are now cheaper than old ones

New-construction homes are now often cheaper per square foot than existing homes in high-building areas like the Sun Belt, with discounts of over 14% in cities like Austin and Raleigh. Builders are reducing prices and offering incentives amid rising inventory and slow sales. However, in regions with less new construction, such as the Northeast and Midwest, new homes still typically cost more than existing ones.