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The number of unsold completed new single-family homes in October 2024 (113,000) reached its highest level since August 2009 (118,000). This trend prompts an important question for the 2025 housing market: Is the rising standing inventory merely an indication that the new construction sector is stabilizing after the unprecedented pandemic housing boom, or does it suggest that builders—especially in regions where unsold inventory is surging—need to implement further affordability measures, such as price reductions or enhanced buyer incentives?
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