Housing inventory at lowest level since June 2013

According to the NAHB, the increase of pace of new home sales pushed the supply of inventory to its lowest level in more than a year.

September 25, 2014
Estimates from the Census Bureau and HUD indicate that on a non-seasonally adjusted basis the inventory of for-sale newly built homes stood at 206,000 in August, a slight increase from the July estimate of 202,000. These numbers counter claims made last week that home builders are constructing new homes faster than they can be occupied; single-family construction is occurring at a pace about half of the normal, sustainable rate based on population growth and need to replace older housing.