New Home Cancellations increased Sharply in Q3

"Significant shift in market conditions"

First, a few quotes from some homebuilders:

"During most of the year, demand for our homes was strong. Beginning in June and continuing through today, we have seen a moderation in housing demand caused by significant increases in mortgage interest rates and general economic uncertainty.” [Donald R. Horton, Chairman of the Board, said] …The Company’s canc…