America's biggest home builders are slashing prices.
Lennar has reduced its average selling price from $511k to $377k, a nearly 25% decline (inclusive of incentives).
DR Horton has cut from $415k to $366k, a 12% decline.
Four years ago, this would have been hard to imagine.… pic.twitter.com/vJCruOVAOr
— Nick Gerli (@nickgerli1) August 6, 2026
THE US HOUSING MARKET IS GOING THROUGH A CRISIS
Homes are now selling below asking price in 38 of America's 50 biggest cities.
Only 25% of US homes sell above asking, down from 55% in 2022.
San Francisco, New York and Boston are the only ones still selling above asking. pic.twitter.com/nNd4c9QssH
— Bull Theory (@BullTheoryio) August 9, 2026
Ouch. That’ll leave a mark 💀 https://t.co/TaXFWoDfux
— QE Infinity (@StealthQE4) August 9, 2026
Redfin data confirmed below-ask sales in 38 of top 50 markets with biggest discounts in Florida and Texas.
Lennar and DR Horton both using heavy incentives and rate buydowns to move product.
Builder supply sits at elevated levels not seen outside past recessions.
Zillow and others already cutting staff as transaction volume stays soft.
Luxury segment still holds up while starter homes struggle to sell.
Homes are selling below asking in 38 of the 50 biggest U.S. cities
https://www.cnbc.com/2026/08/07/homes-are-selling-below-asking-in-38-of-the-50-biggest-us-cities.html
Housing Market Predictions For 2026: When Will Home Prices Drop?
https://www.forbes.com/advisor/mortgages/real-estate/housing-market-predictions/