Real Estate
Builders Cut Prices as New Home Sales Plummet
Home builders are facing their worst sales slump in 13 years, leading to aggressive price cuts and a surge in unsold inventory. This trend, mirroring the 2008 crisis, suggests a significant market correction is underway. The mortgage rate lock-in effect is currently propping up the existing home market, but future pressures may bring more inventory and negotiation opportunities for buyers.