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  • Prices of New Houses Drop Further, -18% Year-Over-Year, Sales Drop, High Inventories Rise Further, Supply Jumps

Prices of New Houses Drop Further, -18% Year-Over-Year, Sales Drop, High Inventories Rise Further, Supply Jumps

November 28, 2023

by Wolf Richter Wolf Street

Mortgage-rate buydowns, “smaller product footprints,” and “de-amenitizing” to bring down payments: D.R. Horton.

Homebuilders, in order to sell new houses at a decent clip in this new mortgage-rate environment – even as sales of previously owned homes have collapsed because sellers refuse to accept reality – are using a variety of strategies, outlined by D.R. Horton in its Q3 conference call, including: