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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.

Single-family homes at a Lennar Corp. development in San Diego, California.

Photographer: Bing Guan/Bloomberg
Updated on

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.