But again, the typical lead time for new homes is about 6-12 months. The backlogs that the builders have now were signed up 6-12 months ago when housing was red hot...
Watch for the cancellation to speed up next three months..
Locking a housing needs only $10k... not big deal for a potential profit of several 100k... The trouble is that all these home builders will hold inventory when those potential buyers walk away from their contracts next year
You are an idiot. The big builders love cancellations right now. They resale for 20-30% more immediately with no problem. I work for one and we blow them out as soon as we we have a valid cantactual reason. Cancellations only mean greater profits and are actually a good thing in this market. Too many idiot shorts on this board. You need to pick up the retail markets and buy plenty of shorts because you are going to lose these.