flexiblefullpage - default
Currently Reading

Unsure Of The Housing Market's Future, Homebuyers Are Canceling Deals

Advertisement
billboard - default
Housing Markets

Unsure Of The Housing Market's Future, Homebuyers Are Canceling Deals

In the face of an uncertain future for the housing market, more and more potential homebuyers are backing out of deals. Now, builders must decide how to adjust given this current shift.


July 22, 2022
Homebuyers are signing a contract.
Image: Stock.adobe.com

In the face of an uncertain future for the housing market, more and more potential homebuyers are backing out of deals and the nation’s largest builder, D.R. Horton, is no exception. Nearly 25% of its contracts fell through during April, May, and June, the company reports. Now, builders are slowing down their production process and fewer houses are being built to balance consumer demand.

D.R. Horton executives aren’t letting the cancelations dampen their spirits, as they say that even though the demand is slowing, it hasn’t stopped and builders are able to adjust and slow production down given this current shift.

Although homebuilders are still a ways away from pushing the panic button, the latest quarterly earnings from D.R. Horton shows how big homebuilders are being forced to adjust to a shifting market by pulling back their production volumes, moderating their price increases, and offering more incentives to buyers.

Read more

 

Related Stories

Infill Housing

Urban Infill Developments Bring Modern Touch to Historic Neighborhoods

More and more builders are taking advantage of urban infill opportunities to provide luxury and amenities

Land Planning

Across the Country, Developers Are “Fighting for Land”

A strong demand for homes and a lack of supply will mean land prices will continue to rise

Housing Policy + Finance

Moody's Analytics: 210 Regional Housing Markets Were Overvalued by More Than 25% in the 2nd Quarter of 2022

A housing correction looms, with some markets seeing housing activity slowing and home prices falling

Advertisement
boombox1 -
Advertisement
native1 - default
halfpage2 -

More in Category




Advertisement
native2 - default
Advertisement
halfpage1 -

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.


Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Subscribe
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.