Tons Of New Homes Sitting On The Market 9/8/26
Summary
CNBC's Jessica Ettinger reports on disappointing new construction home sales, with nearly half a million completed homes sitting unsold in July. A 9.6-month supply signals a high inventory market, exacerbated by mortgage rates rebounding to near 7% after geopolitical tensions. While builders reduced their interest rate buy-downs, they did lower median sale prices by 2.3% to $393,800, making new builds slightly cheaper than the previous year.
Topics discussed
Introduction: Rising inventory of unsold new homes
July inventory levels and market supply analysis
Impact of geopolitical events on mortgage rates
Builder strategies: Rate buy-downs and price adjustments
Year-over-year price comparison and newsletter promo
Sponsored segment: Schwab trading education resources
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