In February, new single-family homes for sale hit 500,000, the highest since November 2007. Over the past 13 years, inventory has more than tripled from a low of 142,000, marking the largest supply ever outside the 2006 housing bubble. In the South, new homes for sale dropped 8,000 to 296,000, still near a record high and above the 291,000 seen in 2006 before the market crashed.