"The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) for June reported that builders' confidence in the market reached the lowest point in over 25 years." See link below.
No big surprise, since the housing market is causing a lot of anxiety. Additionally, the current mortgage market is contributing to builder anxiety. In fact, "NAHB President Brian Catalde said 'Builders continue to report serious impacts of tighter lending standards on current home sales as well as cancellations, and they continue to trim prices and offer a variety of non-price incentives to work down sizeable inventory positions.'"
More details and analysis here...worthy of a read, if you have the time: http://www.mortgagenewsdaily.com/6192007_Housing_Starts.asp
Are the current catalogue of incentives not working? What exactly are the 'non-price" incentives that ARE actually working?
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