New York, New Jersey and Pennsylvania are Home to the Most Expensive New Houses in the U.S.
If you're interested in building or buying a new home, consider yourself lucky if you don't live in the Northeastern United States: new research from the National Association of Home Builders shows that median home prices on the Atlantic Coast are 52% higher than the U.S. average. And while the NAHB reports that this difference is due to more expensive tastes and high local labor costs, the research shows exactly how disparate the country's new home construction market has become as the economy continues to recover.
By analyzing government data on speculatively-built homes--or residences constructed on a builder's land, which are sold in one deal with the property -- the NAHB found the median sales price of a single-family home in the U.S. to be around $86 per square foot. In contrast, ...