Realtor.com Study Reveals High Premiums for New Urban Homes in U.S. Cities
A recent study by Realtor.com highlights the significant price premiums associated with newly built homes in urban centers across the United States. The research indicates that these new constructions are priced 78.4% higher than existing urban homes. This disparity is attributed to the limited availability of new homes in urban areas, where only about 10% of new constructions are located, compared to nearly 30% of existing homes. The study identifies Miami as the city with the highest premium, where new urban homes are listed at a median price of $2.58 million, a 461.8% increase over existing homes. Other cities with high premiums include St. Louis, Detroit, and Chicago. The findings underscore a growing demand for urban housing amidst a chronic supply shortage. 
