Monthly Supply of Housing Spike to 9 months

Monthly Supply of housing spiking to 9 months is bad juju! Typically it signals a recession. Key word Typically!
The norm has been about 6 months supply as the chart indicates. While homes are still sold at much higher
rates historically without much of a problem the difference is not at these price levels. Historic highs as seen
here when I posted it back In april of this year.

I first started to warn about housing when New Home prices had collapsed 10% suddenly back on Feb of this year.

It sinced recoverd just as quickly BUT the warning sign still remains valid 5 months later as Mortgage rates and supply
of homes continue to rise.