Homebuilders KB Home, Lennar Cut Prices As Buyer Demand Has 'Slowed Materially'

Homebuilders are sounding the alarm on the state of American consumers, as sales depend on increased incentives and lower home prices. 

What To Know: Lennar Corp. (NYSE:LEN) and KB Home (NYSE:KBH) each reported disappointing first-quarter financial results in the past week. Both companies pointed to slowing "actionable demand" from homebuyers on earnings calls with analysts. 

Lennar Co-CEO Stuart A. Miller listed several factors contributing to the decrease in homebuyers' demand, including limited funds for down payments, high levels of personal debt, and hard-to-achieve income qualifications for mortgages. 

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"A somewhat confused consumer and wavering consumer confidence have challenged the consumer’s desire and ability to transact. While there continues to be ...