High mortgage rates and building costs have reversed the pandemic trend of bigger houses.
A lot of homebuilders are working with lenders to offer lower mortgage rates — or they're offering other incentives like money towards closing costs.
The number of completed homes rose last month. But further up the housing pipeline, homebuilders are starting fewer projects right now.
You may not think much about electrical distribution transformers, but not having them can delay entire housing developments and grid updates.
Builders find there's high demand for new developments, but they're also finding it harder to convince banks to loan them money.
More buyers are turning to newly constructed homes as fewer owners of existing homes choose to sell.
Lumber is about as cheap as it was before the pandemic, a sign of the slowing housing market. But savings are offset by rising financing costs.
People "desperately want to purchase," but are stepping out of the difficult market, says Ali Wolf, chief economist at Zonda.