If you’re looking for a newly built home in the city, there are typically fewer options than in the suburbs.
Suburban building dominates the current market for new homes, with only 10% of new-construction homes for sale in urban areas, compared with 30% of existing homes, according to the Realtor.com® quarterly New Construction Insights analysis.
The few new builds in urban areas tend to command a hefty premium compared to nearby existing homes—with that premium rising as high at 300% in Miami, the report found…