Housing Market Recession Is Here: Home Builders Slash Prices As Buyers Cancel Contracts, Mortgage Rates Rise

Home builder confidence plunged to a new two-year low in August as higher interest rates, lingering supply chain problems and record home prices continue to exacerbate housing affordability challenges, the National Association of Home Builders reported Monday, prompting some experts to warn the housing market collapse could be far from over. Home builder confidence posted…

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