Homebuilder sentiment nears pandemic low as economic uncertainty plagues consumers
1. Builder sentiment dropped to 32, indicating negative market conditions. 2. The average home price at Lennar fell nearly 9% year-over-year. 3. 37% of builders cut prices, marking the highest share in three years. 4. Weak consumer confidence and high mortgage rates hinder potential home buyers. 5. NAHB forecasts a decline in single-family home starts for 2025.