BREAKING: There are now a record 312,000 new homes for sale in the Southern US states.
This is 21,000 higher than the August 2006 peak, just before the housing market crash.
The number of new houses for sale in the South was almost half of what it is now during the 2020 pandemic.
Meanwhile, new homes for sale in the West have risen by 40,000 over the last 5 years, to 111,000, near the highest level since 2008.
New home inventory in the Northeast and Midwest is also near cycle highs, but remains well below 2006 housing bubble levels.
How much longer can this housing market run last?