D.R. Horton CEO Paul Romanowski noted a slower-than-expected start to the spring 2025 selling season, attributing it to affordability constraints and declining consumer confidence. Similarly, KB Home's CEO Jeffrey Mezger reported muted demand despite healthy community traffic, prompting strategic adjustments to offer better value. Additionally, Lennar has increased buyer incentives significantly, now at 13% of home sales, indicating market shifts. Unsold completed U.S. new home inventories reached 117,000 in April 2025, marking the highest level since July 2009, raising concerns about future market health.
The spring 2025 selling season is starting slower than usual due to affordability constraints and declining consumer confidence, as noted by D.R. Horton’s CEO.
Demand has been muted compared to historical trends this spring, despite a healthy level of traffic in communities, as highlighted by KB Home’s CEO.
Lennar's increased buyer incentives have dramatically risen to 13% of home sales, indicating a significant shift in the market compared to figures from the pandemic.
The current inventory of unsold completed U.S. new homes is at its highest level since July 2009, suggesting potential challenges for the housing market ahead.
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