If you’ve been house hunting around Tacoma, Puyallup, Auburn, Sumner, SeaTac, Des Moines, Burien, Normandy Park, Lake Tapps, or Bonney Lake, you might want to give new construction another look. Right now, something unusual is happening in the real estate market: according to data from the U.S. Census and the National Association of Realtors (NAR), the median price of a newly built home is actually lower than that of an existing home.
That means the brand-new, never-lived-in place you thought was out of reach might actually be the better deal compared to the one built 20 years ago in a nearby neighborhood.
Why Are New Builds Priced Lower Right Now?
1. Builders Are Focusing on Smaller, More Affordable Homes
With affordability challenges top of mind, many builders in the South Puget Sound region are scaling back on size. Instead of sprawling floor plans, they’re creating smaller, more efficient designs that require fewer materials and cost less to produce. That means they can list these homes at lower prices, making them accessible to more buyers.
2. Price Drops and Buyer Incentives Are Back
In recent months, a significant number of builders have cut prices—on average by about 5%—to keep their inventory moving. On top of that, many are offering attractive perks like covering closing costs or buying down interest rates. These incentives can make a newly built home an even more compelling choice, especially if you’re weighing it against an older property without any extras.
Why You Should Talk to a Local Pro Before You Decide
Buying a new construction home isn’t exactly the same as buying a resale. There are different timelines, contracts, and negotiations involved. A local real estate expert can help you identify which builders in Tacoma, Puyallup, Auburn, and surrounding areas are offering the best deals—and make sure you fully understand the process before signing on the dotted line.
If you’re ready to see what’s out there, the market is offering some rare opportunities you might not want to miss. You can explore more insights and guidance on South Puget Sound real estate trends to start planning your next move with confidence.
