With a large number of homes still under construction and more new home completions, builders grew increasingly cautious as mortgage rates soared to a 23-year high.
Market Trends
September 2023 New Home Sales: New Sales Skyrocketing in September
New home sales skyrocketed in September blowing past expectations. While homebuilder confidence is slipping, homebuyers are still strong on new construction with sales up over a third from last year.