Just days into 2023, homebuilders across the country saw a noticeable uptick in demand, as price-sensitive buyers sought relief from last year's mortgage rate shock. The combination of builders' price adjustments—which were substantial in Western markets like Salt Lake City and Boise—and aggressive incentives, like mortgage rate buydowns, were just enough to pull buyers back into the new home market.
At the halfway mark for 2023, that new construction improvement seems to be sticking. At least for now.
