I dont think this is a true or sustainable price level at this point. The reason newbuild costs went up so much were due to material (e.g. lumber) going nuts during hte pandemic and compounded by labor and substantial tightness in backlogs. All of these issues are abating very fast (e.g. lumber already below pre pandemic levels again) except for labor which remains higher. I think as builders complete backlog this year mark to market pricing on incremental orders will be down towards pre pandemic levels again, though maybe not all the way considering higher labor costs are likely sticky. FWIW I received some quotes on very high end custom builds in the middle of the pandemic (so still high material costs) and those returned in the $400 range per square foot so I think this is already towards the high end.