Existing Homes: Months of Supply
The NAR's months-supply measure for existing homes: unsold resale inventory divided by the monthly sales pace. NAR licenses distributors only a rolling 13-month window, so this page's history accumulates from mid-2025 onward — the number to compare against new-home months of supply, which runs far higher.
Latest reading
As of June 2026, Resale Supply (Months of supply) stands at 4.6 mo — up from 4.5 mo the prior reading. Around 4-6 months is balanced; the 2008 crisis ran near 10-12. The defining fact of the current market: resale supply (~4-5 months) remains roughly HALF of new-home supply (~10) — the housing overhang is concentrated with builders, not homeowners. Note the series is not seasonally adjusted; compare the 12-month average across years. Series history runs from 2025 to present.
Sources, methodology & freshnessLast updated 2026-07-20 · Open ↓Close ↑
Months of supply
Full history
Methodology & data
Resale Supply is sourced from NAR via the Federal Reserve's FRED service (National Association of Realtors via FRED (HOSSUPUSM673N), monthly, not seasonally adjusted, rolling 13-month window (history accumulates)). We pull the complete history, chart it on a monthly basis, overlay SPY for context, and generate a dated plain-English reading from the latest release — with no smoothing or adjustment beyond what the chart legend states.
Every reading is stamped with its release date, last updated 2026-07-20. Maintained and reviewed by Yuriy Matso; see our methodology for the standards every series on the site is held to.
Frequently asked questions
What is the Existing Homes: Months of Supply?
The NAR's months-supply measure for existing homes: unsold resale inventory divided by the monthly sales pace. NAR licenses distributors only a rolling 13-month window, so this page's history accumulates from mid-2025 onward — the number to compare against new-home months of supply, which runs far higher.
How do you read Resale Supply?
Around 4-6 months is balanced; the 2008 crisis ran near 10-12. The defining fact of the current market: resale supply (~4-5 months) remains roughly HALF of new-home supply (~10) — the housing overhang is concentrated with builders, not homeowners. Note the series is not seasonally adjusted; compare the 12-month average across years.
Where does the Resale Supply data come from?
National Association of Realtors via FRED (HOSSUPUSM673N), monthly, not seasonally adjusted, rolling 13-month window (history accumulates). We chart the full history and publish a dated, plain-English reading with every release; the raw series is downloadable as CSV at /data/indicators/existing-home-months-supply.csv.
How often is Resale Supply updated?
Resale Supply is a monthly series from NAR, refreshed here as soon as a new release posts to FRED.
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