Personal Finance
Friday, 7/17, 01:32 AM
Homebuilders Are Cutting Prices as Demand Cools, Led by the Sun Belt
- More than a third of US homebuilders cut prices in July, and nearly two-thirds are dangling incentives like mortgage-rate buydowns, as high borrowing costs and swelling inventory cool demand.
- The discounting has gone so far that new homes recently became cheaper than existing ones, a first in decades.
- Here is what is happening and what it means for buyers.