The affordability gap between buying newly constructed homes and existing homes declined in the third quarter as builders look to capitalize on the uptick in demand with incentives.The price per square foot for a new-construction home is lower than the price for an existing home in the South and West in particular, according to Realtor.com's third quarter report on new construction. Both the South and West have more supply of new construction and higher price reductions, whereas the Northeast and Midwest have fewer new-construction homes listed with more modest price reductions."Builders have...

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