BREAKING: There are now 9 times more new homes for sale than the average number of homes sold per month, the highest since 2022, per Reventure. In other words, it would take 9 months for current inventory of new homes on the market to sell given the current sales pace. This ratio is more than 2 TIMES higher than in 2020. In the past, there were only 4 periods when months of supply were higher than they are now with 3 of them being during recessions. Meanwhile, the number of new single-family homes for sale has risen to 494,000, the highest since the 2008 Financial Crisis. Such a large imbalance suggests price cuts may be coming.