All articles tagged with #sales incentives
US new-home sales unexpectedly surged by 20.5% in August to the fastest pace since early 2022, driven by aggressive price cuts and sales incentives from builders, reducing inventory and boosting median prices, despite ongoing affordability concerns and a volatile monthly data trend.
Aspiring homeowners who are deterred by high mortgage rates can still find newly built homes with a 4% mortgage rate, thanks to sales incentives offered by home builders. By paying points or mortgage rate buydowns, builders are reducing the mortgage rate and monthly payments for buyers. Additionally, some builders are dropping asking prices on homes to boost demand. However, price cuts often come with smaller home sizes. While existing-home sales have declined, sales of newly built homes have increased, partly due to these incentives.
Anheuser-Busch will provide financial assistance to its distributors, wholesalers, and other partners to soften the blow from a more than two-month boycott of Bud Light. The company will offer sales incentives, boost marketing, and help cover the costs of fuel and freight. National retail sales of Bud Light have been down more than 25% since the controversy began. The move will roll back the cost of freight and fuel surcharges for the year.
Builder confidence in the market for newly built single-family homes rose 5 points in May to 50, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). Builders are benefiting from a very lean existing home market, with new listings in April down nearly 22% YoY, and are drawing more buyers by offering incentives, like buying down mortgage rates. However, builders continue to face challenges to meet the growing demand due to supply shortages of building materials and tightening credit conditions for residential real estate development and construction.