From Yahoo Finance: 2025-03-22 07:56:00

The housing market remains weak, with high home prices and mortgage rates dampening demand. Lennar’s chairman warns that the market is weaker-for-longer due to high rates and uncertainty. Home prices have surged 45%, while the average 30-year fixed mortgage rate is 6.67%. Consumer confidence is down, affecting urgency to buy homes.

Despite efforts by homebuilders to revive demand, existing and new home sales have declined. Lennar reported $7.6 billion in revenues for Q1 with almost 18,000 homes delivered. Tariff and immigration policies are monitored for potential impacts on costs and labor. Lennar shares are down 28% in the last twelve months.



Read more at Yahoo Finance: CEO of $30 billion homebuilding empire sees ‘weaker-for-longer’ housing market as consumer confidence plummets