The U.S. market is seeing a rise in unsold completed new single-family homes, with January 2025 marking 115,000 homes unsold—the highest since 2009. ResiClub created an index to evaluate housing market slack, showing that while 2025 has more inventory than previous years, it remains tighter than during the 2008 crisis. The index implies builders may need to adjust pricing strategies in response to excess supply. Most unsold inventory is likely concentrated in the South, where demand is shifting due to rising active housing listings.
The number of unsold completed new single-family homes in the U.S. has surged to 115,000 in January 2025, indicating a softening housing market.
ResiClub's Finished Homes Supply Index suggests a higher construction slack in 2025 compared to previous years, yet much less than during the 2008 housing crash.
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