The Spread Between New and Existing Home Prices is at Record High of Approximately $68,000

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Pulled this from this video:

Essentially the existing v. new home market has never been this inverted, and typically it will always revert back to its mean. There’s a million variables at play, but I imagine it would be like a used car costing much more than a new car, it’s just real estate is a slower and more illiquid market that allows crazy distortions to happen like this.

h/t Suspicious-Bad4703

See also  The CEO of Redfin: "I think it's going to be a pretty soft summer for home prices."
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