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The national inventory of active listings decreased 25.8% year-over-year in August. The median national home price for active listings declined from $385,000 in July to $380,000 in August.
Given such volatility in the housing market, fundamentally weak homebuilder stocks such as Lennar Corporation (NYSE:LEN), KB Home (KBH), Meritage Homes Corporation (MTH), and LGI Homes, Inc. (LGIH) could witness a deeper correction in the near term. So, these stocks are best avoided now.
