Home builders sentiment index falls for record tenth month in a row in October. Home builders say the ‘situation is unhealthy and unsustainable.’

Home builders sentiment index falls for record tenth month in a row in October. Home builders say the ‘situation is unhealthy and unsustainable.’

The numbers:  The National Association of Home Builders’ (NAHB) monthly confidence fell 8 points to 38 in October, the trade group said on Tuesday. It’s the tenth month in a row that the index has fallen. Outside of the pandemic, the October reading of 38 is the lowest level since August 2012. A year ago,…

Home builders slash prices and slow construction as buyers pull back, survey shows

Home builders slash prices and slow construction as buyers pull back, survey shows

Home builders are feeling jittery. That’s according to a June survey of home builder sentiment by John Burns Real Estate Consulting. Demand for new homes is cooling as buyers cancel orders, and builders are slashing prices to offload homes, the survey found. “Scary times,” a home builder in Nashville, Tenn. told the company. “Hoard cash…