In the fourth quarter of 2025, nearly 19% of newly built homes listed on Realtor.com underwent price reductions, marking the first time this rate surpassed the 18.3% cut rate in the existing-home resale market. Builders cited affordability pressures and rising resale inventory as key factors driving more aggressive pricing strategies in new construction.

Seven states recorded new-home price reduction rates above the national average: Nevada led at 24.8%, followed by Indiana at 23.3%, South Carolina and Minnesota at 21.6%, North Carolina at 21.3%, New Jersey at 19.9% and Texas at 19.0%. In each of these markets, new construction listings experienced higher cut shares than existing homes, highlighting regional competitive dynamics.

The median listing price for newly built homes rose modestly by 0.3% year-over-year to $451,128, while resale prices remained flat. Newly built condos and townhomes carried a 30.7% premium over existing attached homes, compared with a 10.7% premium for new single-family dwellings, reflecting geographic concentration of luxury developments in urban markets versus broader affordability in single-family suburban construction.