Looks like the monthly sales is still health. Month to clear inventory is steady and up a bit to ~7.8 months in Oct 2023.
Currently monthly sales pace is better than 2018 and 2022, despite record high interest rate in recent years.
New homes for sales has gone up more. So the number month to clear new home inventory has gone up to 7-8 months recently vs. an average of 6.2 months in 2018. And is much better than the 2020-21 average of 5.1 months.
Better availability should be good for inflation and soft-landing scenario.
See the other post for China new home sales – the inventory stood at over 20 months the last time I checked.