Housing Supply Spikes

http://www.thestreet.com/_htmlmdb/newsanalysis/homebuildersconstruction/10376488.html

By Nicholas YulicoTheStreet.com Staff Reporter8/27/2007 10:51 AM EDT

Existing-home sales remained flat from June to July, but inventories spiked to a new high, demonstrating that the U.S. housing market continues to struggle. .....

The number of homes on the market rose 5.1% to 4.59 million units in July, representing 9.6 months of supply at the current sales rate. In June, the inventories were at 9.1 months of supply.