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Lance Lambert described the third-party homebuilder pipeline at Invitation Homes as imploded.
He added that even though more large homebuilders are currently offering discounts of over 20% below market or list prices to institutional buyers, Invitation Homes remains largely inactive in this area.
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Lambert has previously reported that San Francisco County posted a 15.5 percent annual rise in housing prices, while Adams County saw the largest decline among large Western metros. He also covered a recent movement in mortgage rates, noting that the average 30-year U.S. mortgage rate is 7.33 percent, down 28 basis points from this year's peak. These updates come alongside reduced activity from major institutional buyers in the homebuilder pipeline.