Builder confidence in the market for newly built single-family homes was 37 in October, up five points from September and the highest reading since April. Here are the readings for the three HMI indices in October: Current sales conditions increased four points to 38. Sales expectations in the next six months jumped nine points to 54. Traffic of prospective buyers posted a four-point gain to 25. In a sign of ongoing challenges for the housing market, the latest HMI survey also revealed that 38% of builders reported cutting prices in October. This share has alternated between 37% and 39% since June. Meanwhile, the average price reduction rose to 6% in October after averaging 5% for several months previously. The last time builders reduced prices by 6% was a year ago in October 2024. The use of sales incentives was 65% in October, unchanged from September.
Pipe Exchange
16060 Dillard Drive, Suite 150, Jersey Village, TX 77040
- Phone: 713.934.9480
- Fax: 713.934.9490
- Email: sales@pipexch.com