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.
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