Construction
As buyers anxiously await lower mortgage rates, home builders cut prices
New home buyers shopping in virtually nonexistent price tier
Housing boom in most of the U.S. could ease shortage, but cost is still a problem
Builder confidence in the market for newly built single-family homes was 43 in June, down two points from May.
Single-family building permits drop to lowest level in a year
Meanwhile, multi-family construction has slowed down, according to the National Association of Home Builders.
Redfin analysis indicates one-third of homes for sale in Q1 2024 were newly built
National Association of Home Builders attributes levelling off to high rates and low confidence
The NAHB/Wells Fargo Housing Market Index shows the use of sales incentives rose 2% month over month.
New plan put forth by trade association offers 10 solutions to nation's housing problem