🇺🇸 American homebuilders haven't been THIS MISERABLE since 2012, and buyers have basically STOPPED showing up.
Builder confidence fell to just 29 (out of 100) in October. Back in November 2020, it hit an all-time high of 90.
Buyer traffic is even worse, crashing to 18, its lowest level since 2012, excluding the pandemic.
The war sent oil prices and inflation fears soaring, Treasury yields followed, and the 30-year mortgage rate hit 7.40% last week, the HIGHEST in nearly 3 years.
Builders are also PAYING MORE for diesel, materials and construction loans, while immigration enforcement is keeping even legal workers off job sites.
So they're doing what every desperate seller does.
43% of builders CUT PRICES this month, the highest share since at least 2020, and 65% are throwing in sales incentives.
All this just 12 days before the midterms, with affordability already a top issue.
Earlier this year, Trump refused to sign a bipartisan housing affordability bill, dismissing it as "a big yawn." The bill became law anyway.
You think anybody's yawning at a 14-year low?
Sources: NAHB, Reuters, NPR / Writer: Julie
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Thomas "Farlys" Violi | eToro Popular Investor @ThomasVioli ·
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@MarioNawfal Buyer traffic at 18 worries me more than the headline 29, since price cuts rarely fix a market where nobody walks in.








































