BREAKING: The number of new single-family homes for sale has surged to 500,000 in February, the highest since November 2007. The number of new homes on the market has more than TRIPLED over the last 13 years, from a low of 142,000. Excluding the 2006 housing bubble this is, by far, the largest supply of new homes in history. Meanwhile, new single-family homes for sale in the south fell 8,000 to 296,000, near an all-time high. This is higher than the 291,000 seen in 2006, a year before the housing market crash began. Are price cuts coming to the housing market?