Wednesday, August 24, 2011

New Home Months Supply

New home sales data came out yesterday and was pretty weak, but one sign that the market may be healing is the months supply metric, which was reported at 6.6.  We've been at this level of months supply before in the recent cycle, but at a higher level of buying activity.  The combination of depressed buying activity and depressed months supply means that the new home market may finally be clearing.

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