These are clear signs of a market shift.
According to Rick Palacios Jr., Director of Research at John Burns Real Estate Consulting, “May homebuilder survey results published last week. Top themes: 1) Builder metrics quickly deteriorating across the board. 2) Price cuts on standing ‘speculative’ inventory accelerating. 3) Buyer incentives are back.”
https://calculatedrisk.substack.com/p/homebuilder-comments-in-may-builder?s=r