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New homes undercut existing homes in about one-third of major markets

Zillow Research found the biggest value gap is concentrated in Sun Belt areas where homebuilding has expanded quickly, giving buyers lower per-square-foot costs for new construction.

Reported · Written up by our desk · Residential

Zillow Research found that in roughly one-third of major housing markets, new construction is cheaper on a per-square-foot basis than existing homes.

The analysis points to Sun Belt markets as the main place where this value advantage shows up, citing faster growth in building activity there.

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