The trend over time.
The latest available read: Months Supply of New Homes is at 8.5 as of August 2026. Source: FRED · MSACSR. CSV and PNG downloads cover the selected date range.
What Months Supply of New Homes measures.
How many months it would take to sell the current inventory of new houses at the recent sales pace, from the Census Bureau. It is a ratio of new homes for sale to monthly sales.
Roughly 6 months is often treated as a balanced market. Higher readings mean builders are carrying more unsold inventory and may cut prices or slow starts; lower readings point to tight supply.
Why it matters.
More supply gives you negotiating power when shopping for a new home and may ease pressure on prices. For those holding savings, persistent excess inventory signals builders may need to offer incentives rather than further price increases.
Where it fits.
Months Supply of New Homes is covered on the Housing page.