1410 ET - The housing market has softened as consumer confidence and affordability are increasingly limited, Lennar Chief Executive Stuart Miller tell analysts on a call. House and apartment prices have started to come down, he says. That's partly because potential homebuyers aren't making moves to buy houses, even though there's underlying demand. Household income levels indicate many Americans would qualify for a mortgage, he says, but elevated personal debt is putting pressure on these consumers. Growing concerns about job security are also making buyers more hesitant to apply for a mortgage. "While there continues to be considerable traffic of customers looking for homes, the urgency to actually transact remains tepid," Miller says. (katherine.hamilton@wsj.com)
(END) Dow Jones Newswires
March 21, 2025 14:10 ET (18:10 GMT)
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