Lennar Starts Cutting Prices in Cooling US Housing Market
- Builder notes challenges in navigating ‘complicated moment’
- Company sticks to its full-year forecast for home deliveries
Single-family homes at a Lennar Corp. development in San Diego, California.
Photographer: Bing Guan/BloombergThis article is for subscribers only.
Lennar Corp. has started trimming prices and offering buyer incentives in some areas of the US to bolster sales in a cooling housing market.
Rapidly rising mortgage rates and economic headwinds have depressed new orders and buyer traffic in June and increased deal cancellations, the builder said on a call with analysts Tuesday.