Frager Factor

Thursday, September 27, 2007

Glut: 5.1 million homes for sale

A major homebuilder warned this morning of the growing problem of "surplus inventory" as another month of weak sales of new homes left the inventory of unsold new homes at 529,000, and the total number of homes for sale in America at a staggering 5.1 million.

Inventory of unsold homes has spiked 14% in the past year, and 77% from August 2004 levels (see chart and more).

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