Where the new homes are – not New York and Connnecticut

When it comes to new-home building, New York and Connecticut are not where it”™s at.

A new study puts New York and Connecticut among the bottom five in terms of new houses being built. ”¯ 

Portlandrealestate.com”¯analyzed U.S. Census data to determine which states had the most and least new-construction homes per 1,000 residents. 

Rhode Island has the fewest per 1,000 residents at only 1.27 new builds. The average cost of a house in Rhode Island is $437,672.”¯”¯ 

Connecticut has the second lowest rate of new homes with 1.29 new builds per 1,000 people, while Illinois ranks third lowest with 1.55 new builds per 1,000. 

New York has 2.02 new builds per 1,000, making it the state with the fourth lowest rate of new builds. West Virginia rounds out the bottom five with 2.07 new builds per 1,000 residents. 

With the exception of Alaska and Hawaii, most of the states with the fewest new houses being built are in the East.

At the other end of the scale, the research found that Utah has the most new homes being built per 1,000 residents at 11.7. This is more than double the United States average of 5.23 new builds per 1,000 residents. The average value of a house in Utah is $554,955. 

The state with the second highest number of new builds is Idaho, where there are 11.43 new homes per 1,000 residents. The average value of a typical family home in Idaho currently sits at $427,410.”¯ 

Florida ranks third with 9.80 new-construction homes per 1,000 residents. The average value of a house in Florida is $406,426 ”“ up 22.4% from last year. 

South Carolina and Colorado rank fourth and fifth respectively. South Carolina has 9.76 new builds per 1,000 residents in the state, while Colorado has a slightly lower rate of 9.73 new-construction homes per 1,000 residents.  

Commenting on the study, a spokesperson for Portlandrealestate.com said: “In 2021, there were 6.9 million houses sold across the U.S., with this number projected to rise to over seven million in 2023. With this in mind, this study offers a revealing insight into the states where the supply of new housing is increasing the fastest to meet the ever-increasing demand; and for any potential buyers, this research can serve as a useful guide as to where more property will be available in the coming years.”