The Consumer Price Index clocks inflation between spring 2019 and spring 2024 at 22.9%. But Zillow home sale data demonstrates a particularly swift hike in home prices during this time, with the average home sale increasing by 49.4% in the same window. Housing costs are often the largest budget item for Americans and this could make home ownership feel out of reach for many. But adding new housing can help relieve price pressures in undersupplied metro areas.
With this in mind, SmartAsset ranked metro areas according to the most recent number of new construction sales and median sales prices.
Metro areas are ranked based on the number of new construction home sales in March 2024.
Metro areas are ranked based on the highest median sale price for new construction homes in March 2024.
A total of 153 metro areas were ranked based on the number of new construction sales in March 2024 according to Zillow data. Data in this study includes the following for all homes (single family homes and condos):
This story was produced by SmartAsset and reviewed and distributed by Stacker Media.