National Association of Home Builders (NAHB)

Low affordability causing buyers to hesitate has led more builders to cut prices so as to bolster sales

Average effective rates on loans for land acquisition and speculative single-family construction were the highest they’ve been since 2018.

Census data for Q1 2024 indicates decreases in homeownership rate for people under 35 and over 65

But, industry experts say sales data obscure still-strong demand for new construction.

Newest data could help incentivize rate cuts later this year

As buyers anxiously await lower mortgage rates, home builders cut prices