U.S. Unsold New Homes Inventory Climbs to 11 Months
Abstract:
In the latest monthly report, for March 2008, from the U.S. Census Bureau, the number-of-months supply of unsold new homes has shot up to 11.0. This compares with a market equilibrium figure of about 4.0. The depth of the collapse in U.S. housing markets has been stunning. At the current sales rate for new single-family housing, everyone could simply go and sit on a beach for almost a year, then start over fresh in eleven months. − except we’ve all got to try to make a living.
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In the latest monthly report, for March 2008, from the U.S. Census Bureau, the number-of-months supply of unsold new homes has shot up to 11.0. This compares with a market equilibrium figure of about 4.0. The depth of the collapse in U.S. housing markets has been stunning. At the current sales rate for new single-family housing, everyone could simply go and sit on a beach for almost a year, then start over fresh in eleven months. − except we’ve all got to try to make a living.