More homebuilders lower prices as sentiment falls for ninth straight month

Homebuilder sentiment in September fell three points to 46 on the National Association of Home Builders/Wells Fargo Housing Market Index. Anything below 50 is considered negative.

Nearly a quarter of builders reported lowering prices as rates surged.

Higher costs for land, labor and materials have made it harder for builders to lower prices, but they are now being forced to. $LTC Properties Inc (LTC.US)$ $Macerich Co (MAC.US)$ $ARMOUR Residential REIT Inc (ARR.US)$ $Home Depot (HD.US)$ $Zillow-C (Z.US)$ $S&P 500 Index (.SPX.US)$