Housing market affordability is so stretched that this $23B builder is shelling out $55K incentives per home

Housing market affordability is so stretched that this $23B builder is shelling out $55K incentives per home

Want more housing market stories from Lance Lambert’s ResiClub in your inbox? Subscribe to the ResiClub newsletter. During the pandemic housing boom, many publicly traded homebuilders achieved record profit margins as home prices soared and buyer demand ran red hot. Once the national housing demand boom fizzled out in the summer of 2022, many large homebuilders, including Lennar, a giant homebuilder with a $23 billion market capitalization, made…

Lennar Leans on Falling Incentives and Core Product as AI Anxiety, Affordability Squeeze Northern California Buyers

Lennar reported its first meaningful pullback in buyer incentives in three years during the second quarter, a development that lands with particular force in Northern California, where the affordability gap and a technology workforce unsettled by artificial intelligence define the demand picture. The homebuilder delivered 20,519 homes and logged 21,749 new orders in its fiscal […] The post Lennar Leans on Falling Incentives and Core Product as A…