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Months’ Supply of New Homes at Lowest Level Since June 2013

 

The August increase of the pace of new home sales pushed the months’ supply measure of inventory to its lowest level in more than a year.

According to estimates from the Census Bureau and HUD , on a nonseasonally adjusted basis the inventory of for-sale newly built homes stood at 206,000 in August. This was a slight increase from the July estimate of 202,000.

Of this total, 48,000 homes were completed, ready-to-occupy residences. Another 37,000 were for-sale units that had not yet begun construction. The largest component of inventory, homes under construction, came in at 121,000 in August

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