The median price of a new home in the United States is now about 48 percent higher than that of a home being resold, more than three times the gap in a healthy housing market. Many buyers in hardly hit areas are turning away from buying new homes and are considering purchasing a resale to take advantage of this gap. Here is an interesting article worth a few minutes of your time:
Mercury News
Are buyers turning away from new homes in weak markets?
A new home, the dream of many would-be buyers, makes less and less financial sense in many places. A wave of foreclosures has driven down the cost of previously occupied homes and made them even more of a comparative bargain. By contrast, new homes have become more expensive.
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