Every Region of U.S. Sees Fewer New Homes Hitting the Market—Except One

Builders just aren't keeping up. Despite the lack of homes on the market making buyers ever more frazzled, the number of completed new homes dropped month-over-month in every region of the country—except one.

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The South, which is luring companies and new residents with its lower cost of living and more affordable housing prices, had about 634,000 brand-spanking-new homes go up for sale in July, according to the seasonally adjusted numbers in the latest residential sales report jointly released by the U.S. Census Bureau and U.S. Department of Housing and Urban Development. That's a 15.3% jump from June and an impressive 18.5% increase from July 2016.

realtor looked at only the seasonally adjusted numbers in the report. The numbers have been smoothed out over the year to correct for seasonal fluctuations.)