Homebuilders are slashing prices at the highest rate in 3 years
1. Builders are cutting prices at the highest rate in three years. 2. Builder confidence remains below 50, indicating negative sentiment. 3. 38% of builders reported price reductions averaging 5% in July. 4. Single-family housing starts expected to decline due to affordability issues. 5. Mortgage rates remain elevated, impacting buyer interest and affordability.