NAHB: Fewer builders cutting home prices as a result of the pandemic
Average price cut was 5 percent.
In a further sign that the housing rebound is gaining momentum, fewer builders are lowering home prices as a result of the COVID-19 pandemic.
Last month’s HMI survey revealed that just 22% of builders nationwide cut prices in April 2020. This month’s survey reveals that the share of builders reducing prices to bolster sales dropped even lower in May, down to 15%. For historical context, 49% of builders cut prices in March 2008, in the midst of the last housing recession.
The chart indicates the month that builders were surveyed. Builders were asked in the June 2020 survey whether they cut prices in May and those surveyed in May were asked if they cut prices the month before in April.
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CONTRACTOR SUPPLY MAGAZINE
The April/May 2024 issue of Contractor Supply magazine is here!
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Our cover story, Masters of Fasteners, visits Interstate Screw Corp. of metro Miami, which serves the fastening needs of south Florida, the Caribbean and Central and South America.
Also in this issue,our Industry Updates cover Adhesives, Tapes and Sealants, Anchoring Systems and Safety and PPE.
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