Housing markets where deals are emerging as homebuilder inventory piles up to 16

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Most of America’s largest homebuilders have publicly stated that the peak 2025 housing market saw softer-than-expected conditions, particularly in many parts of the Sun Belt.

This softer housing market environment caused unsold inventory to tick up. Indeed, since the pandemic housing boom fizzled out, the number of unsold completed U.S. new single-family homes has been rising: • August 2016 —> 61,000 • August 2017 —> 63,000 • August 2018 —> 69,000 • August 2019 —> 79,000 • August 2020 —> 52,000 • August 2021 —> 34,000 • August 2022 —> 45,000 • August 2023 —> 72,000 • August 2024 —> 105,000 • August 2025 —> 124,000

The August figure (124,000 unsold compl