Rates as of 7/23/2026
Berkshire Hathaway closed its $8.5B acquisition of Taylor Morrison at $72.50/share, signaling major consolidation in homebuilding as the sector reshuffles. Compass absorbed Coldwell Banker Warburg in New York without a set timeline, continuing fintech's push into traditional real estate. Despite mortgage spreads holding at 1.94% and keeping rates below 7%, purchase applications grew just 0.2% annually—a sign higher rates are still constraining demand despite stabilization. Meanwhile, NVR's land-light strategy is showing cracks in permitting constraints, exposing limits to the asset-light playbook that competitors like Lennar are chasing.
TAKEAWAYScale and land control trump pure efficiency in housing.