The supply of new homes for sale in the United States in May decreased by 1.4% year-on-year to 496,000 units.
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Despite this, based on the current sales pace, this is equivalent to 10.3 months of supply, marking the highest level since 2009. In order to reduce the surplus inventory of new homes on the market (including so-called "speculative housing," which is constructed without a signed contract), contractors have slowed down the construction progress.
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