Dive Brief:
A Wells Fargo Securities survey of 150 sales managers at home builders found 29% said they are offering incentives to lure buyers or convince iffy ones.
Home sales fell from June to July and jumped back up from July to August. No one knows about September because the Census Bureau has been on furlough rather than compiling those numbers.
So far, incentives are being seen from both small, privately held builders and major firms like Lennar.
Dive Insight:
How much is too much in increases of home prices and mortgage interest rates in recent months is a shrouded target, but both are evidently affect sales to at least some degree. The incentives that builders are offering in some markets can include finishes or appliances or financial help such as paying the buyer's closing costs or throwing in part of the down payment.