Cautious Consumers Are Hesitant to Sign New-Home Contracts -- Market Talk

1226 ET - Hovnanian's quarterly contracts declined about 4%, to 1,359 homes, during the latest quarter. The homebuilder attributes the decline to political and financial volatility during the period, which prompted consumers to be more cautious. "We continue to believe that there is meaningful underlying demand for housing," CEO Ara Hovnanian says on a call with analysts, noting that consumers are researching and touring new homes, just not converting that interest into contracts. "Even with that modest decline, we believe our sales pace remained resilient relative to the broader market backdrop," he adds. (connor.hart@wsj.com)

(END) Dow Jones Newswires

August 20, 2026 12:26 ET (16:26 GMT)