Map Shows Where New Home Sales Falling as Prices Hit Lowest Level Since 2021
Summary
New home prices in the U.S. have dropped to their lowest point since July 2021, with the median price falling to $393,800 in June. Despite lower prices, new home sales are declining because many Americans are not buying due to high mortgage rates and ongoing affordability issues.Key Facts
- The median price for new homes was $393,800 in June 2026, down 2.3% from May and 0.9% from a year ago.
- New homes are now cheaper than existing homes, which had a median price of $434,100 in July 2026.
- Sales of new single-family homes dropped 10.5% from June to July 2026 and were 6.3% lower than the previous year.
- The number of new homes for sale rose slightly to 488,000 in July 2026.
- High mortgage rates (around 6.65% for a 30-year fixed loan) make it harder for buyers to afford homes.
- Existing home prices continued to rise, but sales fell by 1.7% in July 2026 compared to June.
- New home sales increased significantly in the Northeast but fell sharply in the South and Midwest regions.
- Affordability challenges, including rising home prices and living costs, are limiting buyers despite lower new home prices.
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