Reported 8 months ago
The housing market is facing a challenge as consumers feel more distressed due to increasing prices, leading to credit challenges according to Lennar. The company's average home sales price decreased to $426,000, down from $449,000 in the same period last year. The current housing affordability crisis is attributed to the Federal Reserve's tightening campaign and supply shortages, prompting strategies such as mortgage rate buydowns to attract buyers. However, concerns about profit margins persist due to the impact of these incentives.
Source: YAHOO