Homebuilder cancellation rates are normalizing—fast
Pultegroup
D.R. Horton
KB Home
0
10
20
30
40
50
60%
Mortgage rate shock
COVID-19 RECESSION
13%
19%
14%
19%
22%
43%
12%
19%
17%
12%
18%
14%
8%
15%
10%
7%
17%
9%
10%
19%
9%
11%
15%
13%
9%
16%
11%
15%
24%
17%
24%
32%
35%
32%
27%
68%
13%
18%
36%
Q1 2020
Q2 2020
Q3 2020
Q4 2020
Q1 2021
Q2 2021
Q3 2021
Q4 2021
Q1 2022
Q2 2022
Q3 2022
Q4 2022
Q1 2023