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Hope for New-Home Inventory
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| February/March 2007 |
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| Hope for New-Home Inventory |
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Slowing sales drove new-home inventory up to record-breaking levels in 2006, according to the U.S. Census Bureau. While this excess has created pressure among homebuilders to unload their new-home inventories, industry experts see hope on the horizon.
“Inventories of unsold units are gradually being drawn down from their mid-year highs. Data also confirms … that buyer demand is firming up across many markets and that builders are looking forward to further improvements in sales activity in 2007,”
said David Seiders, Chief Economist of the National Association of Home Builders (NAHB), in a press release.
New-Home Inventories
Ratio of new houses for sale to new houses sold^
| Year |
January |
April |
July |
November |
| 2006 |
5.3 |
6.2 |
7.2 |
6.3 |
| 2005 |
4.4 |
4.3 |
4.1 |
4.9 |
^ Seasonally Adjusted
Sources: U.S. Census Bureau, December 2006 and December 2005; National Association of Home Builders, 2006
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