✉news BusinessReal Estate first seen 18 h ago, last 22 min ago, peak #2
KB Home says housing market weakened since June
Original: KB Home: The housing market has weakened since June—and Texas resale sellers 'capitulate a little bit more'
KB Home executives said the US housing market has weakened since June, with the softening most visible in Texas, where resale home sellers are 'capitulating a little bit more' by cutting prices to close deals. The builder's comments point to growing seller concessions in previously hot Sun Belt markets as elevated mortgage rates and slower demand weigh on home sales.
Why now: Homebuilders' latest earnings commentary is offering a real-time read on deteriorating housing conditions, especially in Texas.
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