DWELLING DISCOUNTS
05/08/2025 |
The spring season, when builders sell 40% of their product, is a dud and that’s before tariffs. The number of completed but unsold homes is at their highest since 2009, and months of supply are at 8.3, a level usually associated with recessions. Worse, existing inventory is also rising. Unsurprisingly, discounts during the first half of April averaged 7.2% of sale price, up from 6.1% in January. Very abnormal.