1029 ET - Hovnanian Enterprises' warning of a slower start to the spring selling season may be a harbinger of what to expect in the housing market this year. The home builder's notice of a slow start comes in tandem with quarterly results that called out healthy demand despite monthly sales volatility and persistently high mortgage rates. Numerous home builders have reported their latest financial results and have indicated they're waiting to see if the housing market will revive after two consecutive years of extremely sluggish sales. While the higher rate environment has lost some of its shock value, concerns about affordability and some of President Trump's proposals and their potential effect on the housing market still loom. Shares are down 5.4% to $115.05. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
February 24, 2025 10:29 ET (15:29 GMT)
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