Why Buying New Might Be a Bargain (Except in Connecticut)

In this episode, I dive into a fascinating trend that’s quietly reshaping the housing market in 2025: the shrinking price gap between new and existing homes.   Nationwide, new homes are still more expensive—by about 38% on average—but that’s actually down from where it was just five years ago.   Back then, the typical premium for a brand-new home was over $100,000. Today? It’s closer to $26,700, and falling fast .   But here’s the kicker: In some states, the gap is still wild.   Connecticut and Pennsylvania? New homes cost more than DOUBLE their older counterparts—yes, double! In fact, Connecticut buyers are paying over $555,000 more just for that new home smell.   Meanwhile, in places like California, it’s actually cheaper to buy new.   Yep, new construction there costs 25% less than an existing home. Wild, right?   We’ll also unpack:   Why buyers need an average of $46,000 more income to afford new builds How this shift could impact inventory, builder strategies, and buyer demand What this means for investors and sellers trying to price competitively in 2025 And why affordability is driving more buyers to spec homes over personalization   If you’re on the fence about buying new or existing, this episode breaks down the real numbers—and what they don’t tell you.   If you ever want to buy or sell a property anywhere in the world, our team would be honored to help get you to your next destination.   Until next time, stay curious, stay hungry, and as always… stay ALL IN!   Amit Bhuta COMPASS ALL IN Miami Group Licensed Real Estate Agent   📞 (305) 439-3031 Mobile 📧 [email protected] 🌐 ALLinMiami.com