New Home Inventory Hits 16-Year High

While most of the focus has been on the inventory of unsold existing houses, the number of unsold but completed new houses has largely been ignored. But according to ResiClub, a news and research firm, that figure has doubled over the last decade, and now sits at a 16-year high.

In August 2016, the unsold inventory of newly constructed houses was a manageable 61,000, the company reports. Fast forward to August 2025 and it sits at 124,000 and growing.

That’s the most since July 2009, when the total was 126,000.

“There’s greater slack in the new construction market now than a few years ago, giving buyers and investors some leverage in certain markets to negotiate better deals with homebuilders,” ResiClub says.

The total has grown so much that at least one home builder has added a tab on its website to help investors find more than 2,000 of its rental ready, “investment friendly” homes.

Lennar, one the country’s largest builders, says the properties are in 90-plus locations nationwide and include a “diverse portfolio” of houses. They are attractive, the builder says, to seasoned investors as well as those new to the real estate market.

Lennar also promises investors “end-to-end purchasing support,” including pre-negotiated financing, property management, insurance, and title services through its affiliates.

At the same time, ResiClub is helping its members find investment properties in the Sun Belt, and it is advising them on how to get the best deals from builders willing to negotiate to move product. By clicking through tabs on its site, buyers can find markets with the most unsold new houses, builders in those markets.

“That’ll give you a starting point to figure out which home builders might be eager in those markets to discount in order to move it,” the company says.