Inventory of New Houses for Sale Stuck at Highest Level since 2007, Driven by Gluts in the South & West. Prices Fall, Incentives Soar, Sales Rise

Inventory of New Houses for Sale Stuck at Highest Level since 2007, Driven by Gluts in the South & West. Prices Fall, Incentives Soar, Sales Rise

Homebuilders get aggressive to sell the inventory, but prices are still far too high.

Inventory of New Houses for Sale Stuck at Highest Level Since 2007, Driven by Gluts in the South & West. Prices Fall, Incentives Soar, Sales Rise

by Wolf Richter Wolf Street Homebuilders get more aggressive to sell the inventory, but prices are still far too high. Despite huge inventories of new houses for sale, including completed houses, homebuilders have continued to build homes at an aggressive pace. Some of the big homebuilders, such as Lennar, have cut prices and thrown large incentives on the market, and their sales increased; while other homebuilders, such as PulteGroup, have been…