Home builders like Lennar have cut prices on new houses substantially over the last several years. With the average selling price on a Lennar house in Q1 2024 being 16% below the peak in 2022. With prices in Texas dropping by even more, down 24%.

Go to Reventure App to access this housing data for yourself: https://www.reventure.app

These prices cuts are due to lack of affordability as well as an excess supply of new homes being built. With Lennar being the second largest home builder in America, indicating that what they're doing has a pretty good representation on the housing market more broadly.

Home builders are cutting prices and offering generous mortgage rate buydowns because the buyer demand has fallen significantly since the peak of the pandemic. While the inventory of homes for sale has spiked.

Home prices are falling most in cities like Austin, Dallas, Houston, Nashville, Phoenix, and Las Vegas, where these builders have cut prices the most in the since the peak of the housing bubble in 2022.
---
Access Exclusive Data and Videos as a Channel Member: https://www.youtube.com/channel/UCVTQunGrE3p7Oq8Owao5y_Q/join

DISCLAIMER: This video content is intended only for informational, educational, and entertainment purposes. Neither Reventure Consulting or Nicholas Gerli are registered financial advisors. Your use of Reventure Consulting's YouTube channel and your reliance on any information on the channel is solely at your own risk. Moreover, the use of the Internet (including, but not limited to, YouTube, E-Mail, and Instagram) for communications with Reventure Consulting does not establish a formal business relationship.

Image(s) and/or Footage used under license from Shutterstock.com. https://www.shutterstock.com/
Additional stock footage provided by Envato Elements. https://elements.envato.com/