Builders are spending 13.3% of home prices on buyer incentives—the highest since the 2009 crisis.
“Major builders are now spending 13.3% of home prices on desperate buyer incentives—the highest since the 2009 financial crisis.”
D.R. Horton reported a 10% year-over-year drop in Southeast sales.
“This came after the business revealed that its Southeast division’s net sales had decreased by 10 percent year over year in the third quarter.” https://floridainsider.com/real-estate/florida-warning-issued-by-americas-biggest-homebuilder/
Florida’s housing market is cracking—price drops, surging inventory, and collapsing demand.
“Florida home prices dropped 2.2 percent year-over-year to a median price of $410,400… the number of sold properties decreased by 3.2 percent.” https://www.newsweek.com/largest-us-homebuilder-issues-florida-warning-2105243
South Florida is now the epicenter of housing market weakness in the United States.
“South Florida is the epicenter of housing market weakness in the United States,” Chen Zhao, head of economics research at Redfin, told Bloomberg. https://www.msn.com/en-us/money/realestate/americas-largest-homebuilder-issues-florida-warning/ar-AA1JrRF5