Building on housing data compiled by NerdWallet identifying the top 10 small, mid-sized, and big cities for homeowners, Builder released its own revised list of the top 10 big cities for new homeownership.
Among the top 10 markets on the list: San Antonio, Raleigh, Denver, Charlotte, Nashville and Jacksonville.
Builder used Metrostudy data to compare the median price for existing versus new homes, calculating how much more home buyers in each market would pay for a new home based on last year’s median closing price. The percent increase represents the additional cost based on the existing home median closing price and shows the difference in median price.
Median closing prices for new homes in all ten cities held under $300,000 last year. New home buyers in the top big cities for homeownership can also expect to find new homes for less than $200,000 more than existing, which based on higher average household incomes than smaller, neighboring cities bodes well for families who want to spring for new.
