DOES NEW CONSTRUCTION CURRENTLY COST LESS THAN RESALE HOMES?

By
Real Estate Agent with Watson Realty Corp

I researched this question after being asked by a customer who found a new home priced higher than comparable resales and wondered why.  I found there are two different takes on this matter...  

Version #1 says new construction is cheaper than it has been in some time due to the lack of demand for materials and labor, and should be priced accordingly.

Version #2 says that new construction can be more expensive than comparable resales because of the fact that there is less building, and less quantity, therefore must charge more.  

In my opinion, I vote for version #1, isn't that the American way?  Adjust to the market?  I will advise my customer to bargain hard.  What do you think guys?

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new construction prices versus resale

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Murrell Weissinger

The St Augustine Native with a world of experience