New homes are $20K cheaper than existing homes

🙌 Welcome back! It’s Friday Junior. We’ve got real estate updates you won’t want to miss…

Today’s newsletter is 788 words—a 2.5-minute read.

1. Homeowner count drops for first time since 2016

For the first time in nearly a decade, the number of homeowner households has declined. According to Redfin, homeowner households fell 0.1% year over year in Q2, dropping to an estimated 86.2 million. While the dip is small, it marks the first decline since 2016.

At the same time, renter households jumped 2.6% to 46.4 million — one of the largest increases in recent years, Redfin noted, citing U.S. Census Bureau data.

Overall, the U.S. homeownership rate stood at 65% in Q2, down slightly from 65.6% a year earlier. The rental rate climbed to 35%, up from 34.4%.

2. Final Offer launches in Texas with KW brokerages

Final Offer — the listing and offer negotiation marketplace — has officially launched in the Dallas–Fort Worth Metroplex, partnering with several Keller Williams brokerages, including GO Network, KW Realty Allen, KW Heritage West, KW Brazos West, KW Fort Worth, KW Johnson County, and KW Legacy.

Together, these brokerages represent more than 6,000 real estate agents who can now give sellers control over how they market their homes while offering buyers more transparency with real-time updates, including alerts when offers are made.

The platform aims to eliminate blind spots in the offer process by notifying agents and consumers when sellers add new options, offers are submitted, and deadlines are set.

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3. Catch up quick

🏘️ Investors buy nearly one-third of homes nationwide. (Cotality)

📊 Biggest challenges for buyers, sellers, and builders in 2025. (Realtor.com)

♿ Texas cities rank among the nation's most accessible. (Wander)

⚠️ One in four homes in the U.S. is exposed to severe or extreme climate risks. (Realtor.com)

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4. New homes are $20K cheaper than existing homes

New-home prices have been sliding for months — and they’re now cheaper than resale homes. According to Realtor.com, the median sales price of a new home was $407,200 in June 2025, about $28,000 less than the typical existing-home price. That figure is a 6.5% discount and the biggest price difference in the last 25 years.

In July, that discount narrowed slightly to $19,000, or 4%, but it still marked the fourth straight month new homes were cheaper on average than existing ones.

5. Homeownership in the U.S. is getting older

The typical American homeowner is now over 50 years old, according to a new LendingTree study — a sign that rising housing costs are pushing homeownership further out of reach for younger buyers.

Across the 50 largest metros:

• Average homeowner age: 50.75

• Average renter age: 44.72

• Average U.S. population age: 39.1

• Median monthly housing costs (with mortgage): $2,229

• Median gross rent: $1,515

Still, younger buyers are breaking through in some markets. In Austin, for example, the average homeowner age is 48.75, with a median housing cost of $2,471.

6. Trump considers declaring 'housing emergency'

The Trump administration is zeroing in on housing affordability — and home builders may benefit most.

In a Sept. 2 interview with the Washington Examiner, Treasury Secretary Scott Bessent said President Trump “may declare a national housing emergency” this fall. The last such declaration came in 2008, during the financial crisis and Great Recession.

Bessent didn't disclose many details about what specific actions the administration might take, but he indicated it would involve relief for home builders. Cutting interest rates would help — and that's looking more likely this month — but Bessent said the administration is also assessing ways to standardize building and zoning codes and decrease closing costs.

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