Homebuilders offering 3.99% rates as $403,800 median price drops 6% - here's why
Key Points
- New home sales unexpectedly rose to 652,000 units in July, s...
New home sales just pulled off something economists didn't see coming: they actually beat expectations. In July, sales hit 652,000 units annually compared to the predicted 630,000 - proving that even in today's housing market, surprises still exist.
But here's the catch that makes this "victory" feel a bit hollow: builders are basically throwing everything but the kitchen sink at buyers to make these numbers happen. About 66% of builders are now offering incentives - the highest rate since the pandemic started. It's like watching a clearance sale where the store really, really needs to move i...
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