Key Details:
- New Realtor.com report on new construction shows Fayetteville, AR leading with 43.1% of listings in new construction priced 4.5% below existing homes.
- Boise follows with 51% of listings, while Raleigh posts 47.3%.
- Outliers include Des Moines with a 26.2% premium and Oklahoma City with the fastest sales at just 48 days on market.
With the supply of affordable U.S. homes still lagging behind demand, new residential construction is becoming the lifeline for access to homeownership.
A new report from Realtor.com highlights the metros where builders are delivering the most impact, combining availability, affordability, and lower climate risks with strong buyer demand.
Danielle Hale, Realtor.com’s chief economist, emphasized how new construction is opening the door for buyers:
“Our top metros for new construction are places where builders are delivering much-needed inventory at price points that reflect local demand. With nearly half of the for-sale homes in some of these metros being new construction, and often being sold at or below the cost of existing homes, buyers in these areas have a real chance to find homeownership with high-quality, newly built homes at prices they can afford.”
Where New Homes Dominate the Market
Realtor.com analyzed the 100 largest U.S. metros using four factors:
- Share of new-home listings
- Price premiums compared to existing homes
- Relative climate risk
- Buyer demand measured by page views and days on market
Top 10 Metros for New Construction
- Fayetteville-Springdale-Rogers, AR
- Boise City, ID
- Nashville-Davidson–Murfreesboro–Franklin, TN
- McAllen-Edinburg-Mission, TX
- Portland-South Portland, ME
- Madison, WI
- Greenville-Anderson-Greer, SC
- Austin-Round Rock-San Marcos, TX
- Charlotte-Concord-Gastonia, NC-SC
- Raleigh-Cary, NC
These markets are not only producing inventory but also creating opportunities for buyers to purchase new homes at competitive prices, sometimes even below the cost of existing homes.
Standout Markets in the Top 10
Fayetteville, AR earned the top spot with new homes making up 43.1% of listings. The median newly built home is priced at $399,717, lower than the median existing home price of $418,375. Days on market sit at 72, showing steady demand in a growing market with strong job opportunities and affordability.
Boise, ID leads the nation in new construction share at 51.0% of listings. New homes here are also slightly cheaper than existing ones, with a median price of $540,743 compared to $559,517. Builders in Boise have also leaned into sustainability, offering designs with lower fire risk than older housing stock.
Raleigh, NC is another strong performer, with 47.3% of listings in new construction and pricing virtually on par with existing homes (-0.1% premium). Demand is high despite longer days on market at 77, reflecting Raleigh’s growth as a hub for both tech workers and families.
Other standouts include Nashville, TN (37% of listings) and Austin, TX (24.2% of listings), where new construction is helping offset affordability challenges by expanding supply in markets with rapid population growth.
Outliers Worth Watching
Beyond the Top 10, several metros stand out for unusual dynamics in pricing, demand, or market speed.
- Des Moines, IA (#22): New homes make up 35.5% of listings but come with the highest premium in the top 25 at +26.2%. Homes are also sitting on the market for an average of 114 days, indicating a potential affordability mismatch.
- Cape Coral-Fort Myers, FL (#13): New homes are priced at a steep discount, -13.1% below existing homes, giving buyers a rare affordability advantage in a state where demand often drives premiums.
- Oklahoma City, OK (#23): With a 24.3% premium on new construction but the fastest-moving market at just 48 days on market, buyers here are clearly willing to pay extra for new inventory.
- Houston, TX (#21): New homes account for 31.6% of listings, but demand lags with a -72% drop in page views per listing compared to the national average.
- Winston-Salem, NC (#14): New construction comes at a 20.1% premium with nearly one-third of listings (32.8%) being newly built, showing strong builder presence in a smaller metro.
Why It Matters
Joel Berner, senior economist at Realtor.com®, pointed to the unique alignment in these markets.
“Strong local job markets, builder investment and affordability are converging in these metros to create opportunity. When communities reduce zoning barriers and support sustainable building practices, it’s a win for affordability, livability and long-term resilience.”
Buddy Hughes, chairman of the National Association of Home Builders, stressed the role of policy in supporting supply growth.
“The only way to ease the nation’s housing affordability crisis is to increase the housing supply and local, state and federal governments all have an important role to play. We need to enact policies at all levels of government that will eliminate burdensome regulations, promote careers in the skilled trades and alleviate permitting roadblocks to allow builders to construct more attainable, affordable housing.”
Key Takeaways for Agents
- In several top metros, 40% or more of listings are new construction, and in some cases, these homes are priced below existing inventory.
- Outlier markets like Des Moines and Oklahoma City show how premiums and demand can vary widely, giving agents data points for pricing conversations.
- Builders are stepping up where inventory is tight, creating opportunities for agents to connect buyers with modern, energy-efficient homes in growing markets.
New construction is no longer a side story. In many U.S. metros, it’s the main driver of affordability and access to homeownership, specifically in areas where new home prices and builder concessions meet homebuyers where they are.
