Homebuilders expected a buying rebound that didn’t come.
Home Buyers Are Hiding
The Wall Street Journal reports Builders Are Offering Mortgage-Rate Discounts. Home Buyers Aren’t Biting.
America’s biggest builders are struggling to sell homes even when they offer buyers a 4% mortgage. Their experience suggests rate cuts alone won’t be enough to boost weak sales in the wider housing market.
The number of completed but unsold new homes has reached levels last seen in the summer of 2009, data from the Federal Reserve Bank of St. Louis shows. At the end of last year, builders were confident that sales would recover in 2025 and built tens of thousands…
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