Zillow: New homes sell for median $205 per square foot, under $212 for existing homes
ZG•Zillow analysis found new homes sold for a median $205 per square foot nationally in July 2026, compared with $212 for existing homes. New-home supply reached 9.6 months, and new construction made up 12.6% of U.S. home sales in the 12 months through July.
1. New-home price shift
New homes sold for a median $205 per square foot nationally in July 2026, below the $212 median for existing homes. The discount reverses pricing from 2018 to 2024, with new homes priced below existing homes in 17 of the past 19 months. Builders increased price flexibility as new-home supply rose to 9.6 months, from 7.6 months two years earlier. The largest discounts were in Austin at 19.3%, Raleigh at 14.4% and Tampa at 12.4%; new construction accounted for 12.6% of U.S. home sales in the 12 months through July, matching 2019 levels.
