bubble_contagion does have a point. the 25 months is coming from 15,139/588. and yes, these are future phases, not current already build homes.
but, I do believe the 15,139 may represent the amount of homes builders already commit to and can’t back out on, ie, they already started on the project and the land already transferred from developer to builder. If this is true, then we are looking at MUST BUILD inventory.
