Builders throw in goodies to lure buyers amid slow sales
According to Bloomberg, builders in volatile housing markets such as Phoenix, Sacramento, Las Vegas, and Orlando have been experiencing a drop in sales and are offering more incentives for potential buyers.
In the words of Alex Barron, a senior research analyst at the Housing Research Center in El Paso, “Phoenix is a cautionary tale about raising prices too aggressively and opening up communities too aggressively.” Hence, incentives such as swimming pools, built-in barbecues, and subsidized mortgages are popular ways builders try to attract buyers.
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