New Home Sales Up Big – Inventory Shrinking fast – South Dominates Again (Adrian Schmidt)June 15, 2010
From the US Census Bureau & HUD
In May 2010, the U.S. Census Bureau & HUD issued a joint press release indicating the United States is now down to a national inventory of 211,000 total new single-family homes available for sale. The Southern region of the United States dominated by selling 54% of all new homes that were available for sale. Based on an analysis prepared by Florida-based TerrraCap Management Corp., this is a 50-year low on actual new units available for sale. TerraCap notes that the important difference today is that the United States now has 100 million more people than it did in the late 1960’s when the levels were that low, and TerraCap feels that it’s very likely we’ll see accelerating momentum in residential real estate absorption in the months ahead.