Home builders trigger major Recession Warning. Supply spikes to 2008 levels.

Home builders are reporting the biggest growth in unsold inventory of homes since 2008. With Reuters reporting that the supply on builder lots just hit the highest level in 16 years.

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This is the signal of an imminent housing slowdown and economic recession. Or at least it has been historically. Each of the previous 6 recessions was preceded by a big surge  in home builder supply. This is especially true in the housing market in the south, where homes for sale from builders is now at the highest level of all-time.

Even higher than the previous peak in 2006, meaning that states like Florida, Texas, Tennessee, Georgia, and South Carolina could be seeing a major and continuing surge in inventory of homes for sale in coming years.
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