Real Estate News & Analysis
Redfin Housing Demand Index Posted Slight Decline from March to April Amid Ongoing Inventory Crunch
Virginia Beach, Memphis and Indianapolis are the Most Affordable Housing Markets for...
Denver Joins Seattle and San Francisco as a Tech Hub with More People Looking to Move...
Tips & Advice
What’s the Best Day to Put Your Home on the Market?
Smart and Sustainable In-Home Technology to Reduce Utility Costs
Why You Still Need Staging in a Seller’s Market
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Visualization of the Week
Today’s new construction homes become tomorrow’s housing market. Without affordable new construction, we find ourselves in a housing market marked by low inventory, high prices and bidding wars—and one where first-time homebuyers are often priced out. The average price of a new construction home that sold in the three months through September was $374,000. Compared with existing homes, new construction homes sold at an average premium in September of $87,000.
In conjunction with its inaugural quarterly report on new residential construction, Redfin is making available on its Data Center a downloadable set of monthly data on new construction prices, sales, inventory and other new residential market statistics. Redfin is also releasing building permit data—provided by the Census—allowing users to analyze average construction costs and compare the number of units built per capita across regions. Both datasets are available for download at the National, Metro, and County Levels since 2012.
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