Builders slashing prices
In a sure sign that the market is shifting in SW Florida, builders are slashing prices for new homes to entice reluctant buyers. This is a monumental shift as buyers have had very little leverage with new home builders over the past couple of years.
Count this among the signs that, even in Southwest Florida's stock of new housing, more than just the weather is cooling: Home builders, big and all, are shaving prices and some are offering free furniture, cash discounts and well-below-market, 30-year fixed-rate mortgages.It will be most refreshing to see some of the building driven demand creation programs like lotteries and limited releases quietly fade away. These artificially-hyped environments left a bad taste in the mouths of many home buyers. Builder price reductions are going to be most painful to pre-construction investors who have put their property back on the market and are competing with an aggressively priced builder direct product.
Builders cut prices to sell homes [Herald-Tribune]