For years, all home buyers have heard is that prices are going up, up, and away. But the cost of buying a newly constructed abode has fallen to its lowest price point of the last 12 months. So if you've been wanting to buy a home that's never been touched by another owner, we give you permission do a happy dance.

The median price of a new home dropped nearly 6.9% from March to April to reach $312,400, according to a joint report by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. That was only up 0.4% from April 2017, less than inflation.

"This could be a sign that builders are trying to build at lower price points," says realtor.comĀ® Chief Economist Danielle Hale. That would be a boon to the many would-be homeowners, particularly first-time buyers or those on a tight budget, who are being priced out of the market. "The largest share of home buyers and home shoppers in the market are looking to buy entry-level homes."

Hale pointed out that 5% of new-home sales were for abodes priced under $150,000. That may not sound like much, but it's the largest share we've seen at that super-desirable price point since August 2016.

However, new homes were still about 24.8% more expensive than the $250,400 median cost of an existing home (one that has previously been lived in), according to the most recent data available from the National Association of RealtorsĀ®.

That's because new homes have pricier finishes and appliances, with no wear and tear on anything. Plus, land, labor, and building materials costs have been on the rise.

Meanwhile, the number of new homes sold and for sale dipped 1.5% from the previous month to about 662,000, according to the report. They rose, however, 11.6% from the same month a year earlier. Read more here.