U.S. New Home Inventory Surges to 2007 Levels Amidst Rising Prices and Slowing Sales
TL;DR
The US housing market is experiencing a significant increase in new home inventory, reaching levels not seen since 2007, especially in the South, with prices falling and sales declining. Homebuilders are reducing prices and incentives to stimulate demand amid a market correction, leading to lower profits and a glut of supply, contradicting the media's narrative of a housing shortage.
Topics:businessreal-estate#home-prices#homebuilder-profits#housing-inventory#housing-market#new-homes#real-estate
- Inventory of New Single-Family Homes Spikes to Highest since 2007; in the South, Shoots Past Housing Bust High. Sales and Prices Drop Wolf Street
- U.S. Homes Are Not Selling, and Prices Continue to Rise The New York Times
- Home prices reach record high in June – these states are the most expensive Fox Business
- Home sales declined in June as prices hit new all-time high Yahoo Finance
- June New Home Sales Hold Steady | Florida Realtors
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