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Completed home inventory rises as new-home sales slow

In July, new single-family sales fell to 607,000 units and completed-for-sale inventory jumped to 117,000 homes, pushing supply to 9.6 months.

Reported · Written up by our desk · Residential

HousingWire reports that July 2026 data pointed to softer momentum for new construction, with builders facing higher supply alongside reduced demand urgency. New single-family home sales slipped to a seasonally adjusted annual rate of 607,000, down 10.5% from June and 6.3% from a year earlier.

The median sales price also declined to $393,800, its lowest level since July 2021. Inventory rose to 488,000 homes, equivalent to 9.6 months of supply at July’s sales pace, compared with the four to six months often viewed as closer to balance.

The completed-home picture worsened further, according to analysis of Census data cited by HousingWire. About 117,000 completed homes were for sale in July, nearly four times the record-low 31,000 in February 2022, while 256,000 homes were under construction.

HousingWire said builders are responding with incentives and smaller product mix to maintain sales pace, describing a competitive environment that has become a “race to the bottom.” The outlet also noted the affordability, mortgage-rate levels, and economic and geopolitical uncertainty that can lead buyers to delay, leaving builders carrying costs on finished unsold homes.

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