Up until now, while there was a source for median home prices of existing home sales across the metropolitan statistical areas (MSAs) — the National Association of Realtors®, we were flying blind when it came to new home prices. That has all now changed thanks to the National Association of Homebuilders (NAHB) as they have just released state and metro median new home prices for single family dwellings.
They accomplished this by using the U.S. Census Bureau’s Survey of Building Permits and Survey of Construction.
What states have the greatest new home prices? Not surprisingly, the usual suspects are all there: the northeast and the west coast.
And the states with the lowest new home prices? By the way, Delaware did surprise me as having the lowest median new home price in the country.
Within the MSAs, Bridgeport-Stamford-Norwalk, Connecticut scored the highest median new home price at $878,625. Least was Brownsville-Harlingen, Texas at $116,704. Recall that one-half of all homes sold for less than the median and one-half for more.
To read the entire NAHB blog click http://eyeonhousing.org/2014/07/new-home-prices-by-metro-area-and-state/
To download state median new home prices click http://eyeonhousing.org/wp-content/uploads/2014/07/state_price14.pdf
For the MSA data click http://eyeonhousing.org/wp-content/uploads/2014/07/metro_price14.pdf
Thanks to NAHB for this research and new data series.