Homebuilders cut prices, bring on supply; profits plunge back to earth. Medicine this overpriced housing market needs. By Wolf Richter for WOLF STREET. New single-family homes for sale at all stages of construction spiked to 511,000 homes in June, the highest since October 2007, when inventory was falling during the Housing Bust as homebuilders, struggling to stay alive, were cutting back construction. Prices …
Read More »Inventory of New Single-Family Homes Spikes to Highest since 2007; in the South, Shoots Past Housing Bust High. Sales and Prices Drop
