Feb 2023 prices on newly built homes down 14% to $427,500. Can you afford this?

February 24, 2023 The latest Census/HUD report shows 670,000 new homes sold in January, up 7.2% from December but down 19.4% from January 2022. More important to you as a buyer is that median new home prices (blue line in first chart above) are $427,500, down 14% from the October peak of $496,800. BUILDERS CATERING…