Inventory of Completed Homes: Currently, home builders have 102,000 completed but unsold homes available on the market. This is the highest number since 2009, as reported by Reventure.
Mortgage Demand: Mortgage demand has reached its lowest level in nearly 30 years, further complicating the housing market.
Homes Under Construction: There are now 274,000 new homes under construction. This figure is only about 62,000 fewer than the peak level recorded before the 2008 Financial Crisis.
New Home Supply vs. Demand: The supply of new homes is increasing significantly in a market where mortgage demand is dropping.
Proportion of New Homes: Currently, a record one-third of all homes for sale are new constructions.
Market Uncertainty: With elevated mortgage rates and high home prices, it remains uncertain who will be able to purchase these new homes, despite the soaring levels of new construction.
Stay informed with our financial updates, stocks, bonds, commodities. Get global & political insights. Follow us & enable notifications for the latest updates.
