Has the market peaked? Builders cut new home prices to meet demand for cheaper housing

In the second quarter of 2019, prices for newly built homes fell 0.5% from 2018 levels. This means prices for new homes reached a median of $372,900 in Q2, remaining largely unchanged from the first half of this year, according to data from Redfin. Redfin chief economist Daryl Fairweather said the moderation of new home prices is expected and confirms that builders are now shifting their focus toward offering smaller, more affordable homes.