New home sales in March increased by 3.3% year over year, but median prices fell to their lowest point since July 2021 due to higher mortgage rates and economic uncertainty, forcing builders to offer incentives and discounts to maintain activity. This trend highlights the affordability challenges for entry-level buyers while higher-income segments remain resilient, indicating ongoing pressure on homebuilders to adjust pricing and promotional strategies.
Read the full article at HousingWire
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