Builders Are Winning as Search-Weary US Buyers Rush to New Homes
Companies’ fortunes have turned since the start of the year, thanks to limited listings for pre-owned houses.
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In a US housing market warped by sharply higher interest rates, homebuilders possess what buyers crave: inventory.
It’s a welcome shift for the industry, which was in a slump as the year began. Now, buyers have begun flocking to builders’ sales offices, where offers of discounts and rate buy-downs are so generous that it’s often cheaper to buy new than pre-owned.