Home-builder sentiment fell for the second month in a row, the National Association of Home Builders said.
The numbers: Builder confidence fell in September to the lowest level in five months as buyer demand waned on the back of persistently high mortgage rates.
Key details: Builders are boosting sales incentives to attract buyers who are sitting on the sidelines, waiting out high rates. The September survey also showed that there was a rise in the share of first-time buyers. Among buyers of new single-family homes, 42% were first-timers, the NAHB found, which is higher than the 2018 norm of 27%.Big picture: Despite their own gloomy outlook, home builders and new homes have thus far been a bright spot in the housing market, given that the industry’s key challenge right now is low supply.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Home Assistant Green is here to make the most powerful smart home platform more accessibleHome Assistant in a box.
Read more »
Jacksonville family displaced from home after tree crashes on home during severe stormLeClair firmly believes that part of the tree was situated on his neighbor’s property, while the other portion rested on an easement owned by the City of Jacksonville.
Read more »
Kuala Lumpur's RuMa Is Your Ultimate Home Away From HomeInspired by the Malay word for home, 'rumah', The RuMa Hotel and Residences differentiates itself from other luxury hotels in the region.
Read more »
30 Pieces Of Home Decor From Wayfair To Rescue Your Home From BoredomBecause a floral shower curtain and an ornate crystal candle holder are *not* boring.
Read more »
Jacksonville family displaced from home after tree crashes on home during severe stormLeClair firmly believes that part of the tree was situated on his neighbor’s property, while the other portion rested on an easement owned by the City of Jacksonville.
Read more »