Homebuilders Have Most Speculative Unsold Inventory Since May Of 2008
Authored by Mike Shedlock via MishTalk.com,
Homebuilder inventory of started and completed homes is soaring but sales are weak.
New Home Sales by Stage of Construction, chart by Mish
New Homes for Sale by Stage of Construction
-
Total: 495,000. The most since December 2007.
-
Started Plus Completed: 389,000. The most since May 2008.
-
Under Construction: 274,000
-
Completed: 115,000. The most since August 2009.
-
Not Started: 106,000
Not started means vacant land. Started, and especially completed, represent speculative building.
New Home Sales Annualized vs Homes for Sale Detail
New Home Sales vs Stage of Construction, chart by Mish
New home sales are seasonally adjusted and annualized totals. The stage of construction numbers are seasonally adjusted but not annualized.
New Homes for Sale as Percent of New Home Sales
New Home by Stage of Construction as percent of new home sales, chart by Mish
Elevated for Sale Numbers
-
Total: 75 Percent
-
Under Construction or Complete: 59 percent
-
Completed: 18 percent
The above is a new chart I added just today.
Amusingly, in the middle of the Great Recession, there were more homes for sale than the annualized number of new home sales. That number includes homes not started.
Not started homes represent a land commitment, whereas started and completed homes represent heightened speculation.
Unfortunately, this data series only dates to 1999, but the current numbers appear very elevated compared to the data we do have.
This rates to pressure prices unless demand picks up.
Note: The above charts and commentary pertain to new single-family homes. The following data represents all units under construction including multifamily.
Housing Units Under Construction
Housing Units Under Construction Detail
Housing units under construction, data from Census Department, chart by Mish
The number of units under construction is rapidly falling. It’s down from 1.71 million to 1.41 million, a decline of 17.7 percent.
In the Great Recession, the number of completed units topped at 1.42 million. So, this is a very elevated number.
However, most of this is multi-family in stark contrast to the Great Recession.
What’s Happening?
We are building apartments for immigrants who are here (legally or illegally) and others who aren’t going to get here because Trump effectively closed the border.
Completed units have not yet impacted the price of rent, at least renewals. How long can that last?
Tyler Durden Thu, 02/27/2025 – 12:00
Source: https://freedombunker.com/2025/02/27/homebuilders-have-most-speculative-unsold-inventory-since-may-of-2008/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Online: | |
| Visits: | 1,682,372,728 |
| Stories: | 8,372,089 |
Whistler Blowers, Insiders
