Nation's Largest Home Builder Has a 68% Cancellation Rate in Q4 2022 - Housing Bubble 2.0

Nation's Largest Home Builder Has a 68% Cancellation Rate in Q4 2022 - Housing Bubble 2.0

Another blow to the overall Housing Market. KB Homes, the nation's largest Home Builder announced that they had a 68% cancellation rate for the fourth quarter of 2022. Their previous quarter's cancellation rates were not as bad, but still dismal for the market. KB Homes is not the only Home Builder that is experiencing this issue, however they seem to be the one that is most affected by this down turn. In the end, this phenomenon clearly tells the Housing Market that it is in for a bumpy ride in 2023, as mortgage rates are predicted to remain above 6% as the FED has not given any indication that they will begin to reduce rates going forward. The Housing Correction is full on and when the backlog of Foreclosures come along, we will move into the Crash phase.

This channel discusses recent articles, data and information about the Housing Bubble, Housing Crash, Home Prices, Forbearance, Foreclosures and Short Sales.

Additionally there is a focus on Mortgage Delinquencies, Mortgage Rates, FHA Loans, Real Estate Investing, and Housing Market Predictions for 2022 and Beyond.

Today is January 16th 2023 and Randy will discuss the following topics:

KB Homes Has 68% Cancellation Rate in Q4 2022

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WestBay Real Estate, Inc.
813-833-2045
randy@luxuryshortsales.com

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