{"id":63541,"date":"2018-08-16T16:17:13","date_gmt":"2018-08-16T23:17:13","guid":{"rendered":"https:\/\/redfindevelop.wpengine.com\/blog\/?p=63541"},"modified":"2020-10-06T14:21:48","modified_gmt":"2020-10-06T21:21:48","slug":"new-construction-home-prices-increased-3-2-in-second-quarter","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/new-construction-home-prices-increased-3-2-in-second-quarter\/","title":{"rendered":"New Construction Home Prices Increased 3.2% in Second Quarter"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Second-quarter 2018 new construction metrics compared to second quarter 2017:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">22.3% of newly built homes sold above their list price, down from 24.8%. For the past seven quarters, the percentage of new construction homes that sold above list has been declining. For existing homes, the percentage sold above list has been increasing over the same time period.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">New construction home sales were up 1.3%.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Average days on market was 95, down seven days from 102.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Austin (TX), Fort Myers (FL), Raleigh (NC), North Port (FL) and Orlando (FL) were the five markets with the highest number of new permits per 10,000 people.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">\u201cAfter a dramatic drop in June, lackluster housing-start numbers again in July is disappointing news for the housing market,\u201d said Taylor Marr, Redfin senior economist. \u201cHousing starts are still far below historic averages. Lack of properly zoned land, not enough labor and increasing materials costs due to tariffs continue to be the major factors holding back builders.\u201d<\/span><\/p>\n<figure id=\"media-63542\" class=\"align-none\"><img decoding=\"async\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2018\/08\/Housing-Starts-per-1k-HH-Shortage.png\" alt=\"Housing Starts per 1k HH Shortage\" data-portal-copyright=\"\" data-has-syndication-rights=\"\" data-license-id=\"\" data-licensor-name=\"\" \/><\/figure>\n<p><i><span style=\"font-weight: 400;\">Redfin is making <\/span><\/i><a href=\"https:\/\/tableau.redfin.com\/views\/NewConstructionDataCenter_0\/MedianSalePrice?iframeSizedToWindow=true&amp;:embed=y&amp;:showAppBanner=false&amp;:display_count=no&amp;:showVizHome=no\"><i><span style=\"font-weight: 400;\">available below<\/span><\/i><\/a><i><span style=\"font-weight: 400;\"> 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\u2014provided by the Census\u2014allowing 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.<\/span><\/i><\/p>\n<p>&nbsp;<\/p>\n<div id=\"viz1534460549618\" class=\"tableauPlaceholder\" style=\"position: relative;\"><noscript><a href='https:&#47;&#47;redfindevelop.wpengine.com&#47;blog&#47;2017&#47;10&#47;heres-the-1-reason-its-so-hard-to-find-an-affordable-home.html'><img alt=' ' src='https:&#47;&#47;public.tableau.com&#47;static&#47;images&#47;Ne&#47;NewConstructionDataCenter&#47;MedianSalePrice&#47;1_rss.png' style='border: none' \/><\/a><\/noscript><object class=\"tableauViz\" style=\"display: none;\" width=\"300\" height=\"150\"><param name=\"host_url\" value=\"https%3A%2F%2Fpublic.tableau.com%2F\" \/><param name=\"embed_code_version\" value=\"3\" \/><param name=\"site_root\" value=\"\" \/><param name=\"name\" value=\"NewConstructionDataCenter\/MedianSalePrice\" \/><param name=\"tabs\" value=\"yes\" \/><param name=\"toolbar\" value=\"yes\" \/><param name=\"static_image\" value=\"https:\/\/public.tableau.com\/static\/images\/Ne\/NewConstructionDataCenter\/MedianSalePrice\/1.png\" \/><param name=\"animate_transition\" value=\"yes\" \/><param name=\"display_static_image\" value=\"yes\" \/><param name=\"display_spinner\" value=\"yes\" \/><param name=\"display_overlay\" value=\"yes\" \/><param name=\"display_count\" value=\"yes\" \/><param name=\"filter\" value=\"publish=yes\" \/><\/object><\/div>\n<p><script type=\"text\/javascript\">\/\/ < ![CDATA[ var divElement = document.getElementById('viz1534460549618'); var vizElement = divElement.getElementsByTagName('object')[0]; vizElement.style.width='800px';vizElement.style.height='650px'; var scriptElement = document.createElement('script'); scriptElement.src = 'https:\/\/public.tableau.com\/javascripts\/api\/viz_v1.js'; vizElement.parentNode.insertBefore(scriptElement, vizElement); \/\/ ]]><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Second-quarter 2018 new construction metrics compared to second quarter 2017: 22.3% of newly built homes sold above their list price, down from 24.8%. For the past seven quarters, the percentage of new construction homes that sold above list has been declining. For existing homes, the percentage sold above list has been increasing over the same [&hellip;]<\/p>\n","protected":false},"author":13279,"featured_media":61827,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[8,25],"tags":[39],"coauthors":[],"class_list":["post-63541","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-housing-market-news","category-new-construction","tag-new-construction"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>New Construction Home Prices Increased 3.2% in Second Quarter - Redfin Real Estate News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.redfin.com\/news\/new-construction-home-prices-increased-3-2-in-second-quarter\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Construction Home Prices Increased 3.2% in Second Quarter\" \/>\n<meta property=\"og:description\" content=\"Second-quarter 2018 new construction metrics compared to second quarter 2017: 22.3% of newly built homes sold above their list price, down from 24.8%. 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