Survey: 22% of builders lowered prices in April

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The National Association of Home Builders found in the latest NAHB/Housing Market Index (HMI) survey provides that nationally, about 22% of builders cut home prices in April in order to bolster sales and/or limit cancellations.

Regionally, builders in the South (26%) and Midwest (23%) were the most likely to have reduced prices, compared with much smaller shares in the West (13%) and Northeast (12%).

Historically, the 22% of builders reducing home prices in April 2020 is less than half the share who cut prices during the last housing recession: 52% in May 2007 and 49% in March 2008.

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See NAHB’s NAHBNow blog for more.

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