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Builders Are Stuck With Too Many Houses as US Buyers Pull Back

The industry faces a glut of inventory after years of supply constraints fueled an affordability crisis. 

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US Housing Market Cools Off

In an American housing market that for years has been plagued by too little inventory, builders are suddenly finding themselves with a glut of unsold homes.

This year’s surge in mortgage rates tossed buyers to the sidelines. The waitlists for new houses are gone. And new-home sellers such as Kevin Brown, who works just south of Houston, are on the front lines of a massive shift.