No good news in the housing market

New home sales are lower, and new home inventories higher, than they have been since the early 1990s, aka the last housing recession. We're not quite in peak homebuying season yet, of course, but it's hard to see how the market could much dent this kind of inventory build up, especially since I'm told that it's pretty hard to get a mortgage right now with a sub-700 credit score. According to My Fico, that's almost half of all Americans.