BTIG Survey: US Homebuilder Sales Down 35%

BTIG survey of 103 US homebuilders shows 35% reported lower YoY sales in March, up from 23% in February.
Builder traffic turned negative, with 35% reporting lower YoY traffic versus 18% in February, while higher traffic fell to 33% from 43%.
Sales and traffic expectations weakened, with only 26% seeing sales better than expected (down from 33%) and 24% seeing traffic better (down from 40%).
Builders cite Iran conflict, rising gas prices and re‑accelerating mortgage rates as key headwinds, prompting more incentives and modest price cuts.