Prior month 32NAHB housing market index 33 versus 33 estimate
Price Cuts:
• 38% of builders cut home prices in July (highest since monthly tracking began in 2022)
• Compared to 37% in June, 34% in May, and 29% in April
• Average reduction: 5% (steady since November 2024)
• Sales incentives usage: 62% (unchanged from June)
Outlook:
• Single-family starts expected to decline in 2025
• Permits down 6% YTD
• Builder traffic at its lowest in over two years
This article was written by Greg Michalowski at www.forexlive.com.