ROCKFORD — Homebuilders in the region say the cost difference between building a new home and buying an existing one has shrunk to one of its smallest margins in years, thanks in large part to an inventory crunch that has pushed existing home prices near record highs.
Typically, there is about a 15% premium on the price of a new home versus one you find on the market, according to Chris Youssi, owner of Youssi Custom Homes.
“Right now, it’s pretty much break-even,” he said. “The inventory has forced the market to adjust to that. It’s a seller’s market and prices have just escalated.”…