September Housing Market Index Shows Opportunities for Buyers

The Housing Market Index dropped to 32, its lowest since September 2025, due to higher mortgage rates, labor shortages, and rising material costs. Current sales conditions fell to 35, and sales expectations for the next six months dropped to 37. Buyer traffic remained at 23. Lot availability was rated poor or fair by 80% of builders. Price cuts increased to 38%, with an average 6% reduction, and 66% of builders used sales incentives.