Homebuilders reconsider price cuts

With the market not expected to improve anytime soon and cash-starved builders saddled with inventory, few are willing to take any chances. Plus, they reason, buyers will just go to competitors - including new, existing and foreclosed homes - with better offers. And there are plenty of them: Last month, nearly 60 percent of builders cut prices. But some may be losing faith. About half labeled the cuts at least "somewhat effective" in bolstering sales or limiting cancellations, down from a high of 72 percent in May, according to the National Association of Home Builders.

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