"In March, 26% of builders said sales were better than expected, down from 33% in February, while 26% said sales were worse, up from 22% in February."
"Fewer builders raised their base prices in March, with 17% increasing some, most or all base prices, down from 19% in February."
"Builders in multiple regions cited the conflict in Iran, rising gas prices and reaccelerating mortgage rates as near-term headwinds on buyer urgency and confidence."
"Higher borrowing and energy costs are pushing some buyers to the sidelines, forcing many builders to lean harder on incentives and selective price adjustments."
In March, builder sales expectations declined, with 26% reporting better sales and 26% worse, resulting in a neutral spread. Traffic results also worsened, with 24% seeing better outcomes. Fewer builders raised base prices, while more cut prices, indicating a shift in market dynamics. Incentives increased, with 24% raising them. Builders expressed caution due to macroeconomic pressures like the conflict in Iran and rising costs, impacting buyer confidence. The March data suggests fragile demand as builders adjust strategies to maintain sales amid affordability challenges.
Read at www.housingwire.com
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