New-home sales climbed slightly higher in June, rising by 1.6% month-over-month and by 5.6% from the same time last year, according to data from real estate marketing platform Realtor.com. 

New homes remain more affordable than existing homes

In June, the median price for a new home was just $398,000 compared with the $440,600 median existing-home price. Additionally, builders are much more likely than individuals to offer sales incentives, and that’s helping bring in buyers as well, the report suggests. 

More new homes are coming to the market

The number of new homes for sale held steady in June at 24.3% of all new homes under construction. However, at the same time, the number of unstarted homes for sale rose to its highest level of the year, reaching 23.3% of all homes under construction. With this growth, more homes are expected to enter the marketplace, further leveling the playing field for buyers.