Builders Pull Every Lever to Keep Buyers Engaged in August

August brought a modest 1.7% increase in new-home sales compared to July, though sales are still 2.3% lower than last year—no surprise with mortgage rates hovering above 7%. Builders are trying just about everything, from price reductions to creative incentives, but buyers remain cautious. Interestingly, while high-end homes saw prices climb by 2.2%, entry-level and move-up properties experienced slight price drops. In my 35+ years of helping buyers and sellers across Oxford, Lapeer, Lake Orion and surrounding areas, I’ve seen how market shifts like these can impact decision-making. Staying informed and keeping communication open with clients is always key, especially when the landscape is this dynamic.