3 Things You Can Actually Control About Your Mortgage Rate Right NowIf you're trying to buy a home, affordability is probably what keeps you up at night. And as you watch mortgage rates tick up
Are New Homes Costing More?
Dated: September 2 2026
Views: 13
Think New Homes Cost More? Not Right Now.
Most people think a newly built home costs more than an existing one. But right now, that’s actually backwards. Newly built homes are more affordable than existing ones in a lot of markets. And that’s because builders are cutting prices and stacking on incentives to try to keep their inventory moving.
Here’s why that’s really important for any would-be homebuyer to know.
Newly Built Homes Are the Better Deal Right Now
According to the latest data from the Census and the National Association of Realtors (NAR), a newly built home now typically costs about $40,000 less than an existing one (see graph below):
Builders aren’t like homeowners who can wait for the right offer. Unsold homes cost them money as long as they sit empty. So, builders cut prices and add incentives to keep them moving. That trend has carried into August. NAHB’s latest numbers:
35% of builders cut prices, with an average reduction of 6%.
63% offered incentives like covering closing costs or buying down your mortgage rate.
And those incentives can make a real dent in what you pay upfront and every month after. Plus, since everything is new and many builders offer warranties, you could save on home maintenance costs too. And with affordability where it is, every dollar counts.
So, don’t cross new builds off your list just yet. Yes, you may think they cost more, but that’s not always the case.
If you can get brand-new everything for less than buying an existing home, isn’t that at least worth looking into?
Don’t Let the Builder Pick Your Teammate
But before you tour a single model home, there's one thing worth figuring out first – who's actually working for you once you walk through that door.
That friendly rep in the builder's sales office works for the builder, not you. Their job is to protect the builder's bottom line, not yours. Your own agent flips that.
They know the local market, so they can tell you if the builder's price and upgrades stack up against other options nearby. They'll negotiate on your behalf, whether that's a lower price, free upgrades, or a rate buydown.
A good agent will also push for a home inspection. Builders won’t always bring it up, but it’s a step you shouldn’t skip, even on a new build. And your agent will be in your corner, so you know what you’re buying and get the best deal possible.
Bottom Line
New homes may actually cost less than an existing home right now. And that’s opening up a window for you to get brand-new for less.
If you want a list of new home communities near you that are currently offering incentives or doing price cuts, let’s connect. That way you have someone in your corner helping you get the best deal possible.
Lisa Angelicola
Lisa Angelicola: Your Trusted New Jersey Real Estate Expert With over 24 years of experience as a Broker and Sales Associate at Next Home Force Premier, Lisa Angelicola is a cornerstone of the New J....
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