Home Prices for Builders just crashed by the fastest level on record. Down a massive -18% over the last year. 📉 Biggest annual decline in new home prices going all the way back to 1965.
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1) To be more specific: the Median Sale Price of a newly built house dropped from $497k last year to $409k this year. That 17.6% drop is the biggest annual decline on record. And erases close to half the gain in builder home prices since the pandemic started.