Housing News

Looking for a New Home? Widening Your Search Could Pay Off

September 4, 2026

The search for a newly built home is increasingly long distance.

More than two-thirds of the online views of new construction listings came from home shoppers living outside the property’s metropolitan area in the second quarter of 2026, according to a new Realtor.com report.

(Metros include the main city and surrounding towns, suburbs, and smaller urban areas.)

The 67.2% share of out-of-town browsers exceeded the 65.4% of those looking at existing homes in other markets. Listing views indicate interest rather than completed purchases. Yet the findings show how willing home shoppers are to explore unfamiliar markets in search of new construction.

Those shoppers may also encounter builders willing to negotiate. Builders reduced prices on 20% of new construction listings during the quarter. That was more than the 18.6% of existing homes that had prices lowered.

“New construction is increasingly a destination for buyers who are willing to look beyond their current metro in search of more attainable options and a different lifestyle,” Realtor.com Senior Economist Joel Berner said in a statement. “The markets drawing the most distant attention are largely in the South, where buyers can often find a newly built home at a price that compares favorably with more expensive nearby and coastal metros.”

Builders are cutting prices more often

New construction listings have now received price cuts more frequently than existing homes for three consecutive quarters.

“Builders are navigating a more price-sensitive market,” said Berner. “New-home listing prices have held broadly steady, but a growing share of builders are adjusting asking prices to meet buyers where they are.”

The national median listing price for a newly built home was $450,256 in the second quarter, nearly unchanged from a year earlier, according to Realtor.com.

Meanwhile, the median listing price of an existing home fell 2% to $408,317. As a result, the new construction premium increased from 8.2% to 10.3% over the past year.

The difference in listing prices does not capture the complete cost of ownership. Newly built homes may include energy-efficient appliances, modern building systems, warranties, and fewer immediate repair needs.

Some markets offered especially high concentrations of price reductions on new construction. In San Antonio, Texas, 57.4% of new-construction listings received a price cut. The share reached 50.2% in Fresno, Calif., and 36.9% in Charleston, S.C.

A lower price can reduce the mortgage amount, down payment, and monthly principal and interest payment. Builders may also offer closing cost assistance, mortgage rate buydowns, or upgrades on certain homes.

“An advertised $20,000 builder incentive does not necessarily mean $20,000 off the home’s price,” said Crystal Olenbush, a real estate agent with AustinRealEstate.com in Austin, Texas. “It may include closing costs, upgrades, or a mortgage rate buydown. The real value is how it affects the homebuyer’s upfront costs and monthly payment.”

(A temporary or permanent mortgage rate buydown is when the builder, seller, lender, or buyer pays to lower the mortgage interest rate on the home loan.)

Homebuyers should request a written breakdown of each offer. They should also ask whether the incentive applies only to certain homes or requires the use of an affiliated lender or title company.

Homebuyers are expanding their search areas

Southern markets attracted some of the strongest interest from homebuyers living elsewhere.

Lakeland, Fla., topped the list, with 83.1% of new construction listing views coming from outside the metropolitan area. The median new construction listing price there was $315,821 in the second quarter of 2026, according to Realtor.com.

Cape Coral, Fla., followed, with 82.4% of new construction listing views coming from outside the metro area and a median new-construction listing price of $496,102. Port St. Lucie, Fla., came in at 80.9%, with a median new-construction listing price of $459,176.

For many of the Florida markets on the list, Miami was the leading source of outside interest. The numbers may reflect homebuyers searching for more attainable new construction within the state.

Similar patterns appeared elsewhere. New homes in Stockton, Calif., attracted attention from home shoppers in San Jose, Calif. and San Francisco. Durham, N.C., received interest from Raleigh, N.C., Washington, D.C., and Atlanta.

Newly built homes represented 17.1% of active listings nationwide during the second quarter, nearly unchanged from 17.2% a year earlier.

Expanding a search area can reveal newly built homes that better match a homebuyer’s needs or budget. The listing price is only one part of the calculation.

“Homebuyers should research the neighborhood as carefully as they investigate the property,” said Olenbush. “What appears to be an affordable option may have a very different monthly cost once property taxes, homeowners association fees, and insurance are included.”

Construction timelines deserve attention as well, particularly when a homebuyer is relocating.

“A delayed closing can create major hassles for relocating homebuyers,” said Olenbush. “They may have to pay for temporary housing or maintain their current home longer than planned.”