Reported about 14 hours ago
Demand for new home construction, once a bright spot in the housing market, is rapidly declining due to high prices, rising mortgage rates, and economic uncertainty. Homebuilders are facing a growing inventory of unsold properties and are cutting prices to attract buyers, though demand remains weak. As a result, many builders are scaling back their future development plans, leading to concerns about a long-term housing supply shortage amidst increased resale market activity.
Source: YAHOO