The U.S. housing market continues to face pressure, with builder confidence falling to a 14-year low, and more than 40% of companies forced to cut prices to boost sales.

Zhitong Finance APP has learned that, affected by factors such as mortgage rates remaining above 7%, labor shortages, and persistently high construction costs, U.S. homebuilder confidence deteriorated further in October, falling to its lowest level in 14 years. At the same time, weak homebuying demand and high new-home inventory have forced more and more builders to cut prices to boost sales, and the pressure facing the U.S. housing market continues to intensify.