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Unsold private housing stock hits 15-year low, likely to help support prices in 2023

Inventory expected to stay low in coming year; strong demand, high land and building costs will also keep prices elevated

Corinne Kerk

Published Sun, Dec 11, 2022 · 03:41 PM

Residential

THE stock of unsold private housing under construction has been dropping for nine straight quarters to a 15-year low, and is not expected to increase in the new year.

Combined with strong housing demand and high land and construction costs, private housing prices will likely remain elevated in 2023.

Based on data that was compiled for The Business Times by ERA Research and Consultancy, the stock of unsold private housing units has been on the decline from Q2 2020 to Q3 2022 – or a total of two years and three months – to reach 5,320 units.

This rep…