Our Director of Research, Rick Palacios, Jr., spoke with CNBC Nightly Business Report earlier this week. Rick explains that home builders pumped the brakes on new construction in February because:
- Builders are proceeding cautiously after poor sales in 4Q18.
- High levels of speculative new home inventory (homes under construction with no buyer contract yet) have forced many builders to offer financial incentives to sell homes.
Follow Rick on Twitter: @RickPalaciosJr