A brief excerpt:
First, from Reuters: D.R. Horton cuts 2025 revenue forecast on weak demand for homes
U.S. homebuilder D.R. Horton lowered its full-year revenue forecast and missed second-quarter profit and revenue estimates on Thursday due to weak demand for homes. … It sees about 85,000 to 87,000 transaction closings from homebuilding operations, down from its earlier forecast of 90,000 to 92,000 homes.
I discussed weaker demand and higher costs last month in Policy and 2025 Housing Outlook
Housing Starts Decreased to 1.324 million Annual Rate in March
…
Total housing starts in March were well below expectations; however, starts in January and February were revised up slightly, combined.The third graph shows the month-to-month comparison for total starts between 2024 (blue) and 2025 (red).
Total starts were up 1.9% in March compared to March 2024. Year-to-date (YTD) starts are down 1.5% compared to the same period in 2024. Single family starts are down 5.6% YTD and multi-family up 9.0% YTD.
There is much more in the article.