In August, the supply of houses on the market fell to its lowest level in 42 years as new single-family home sales were flat, Reuters reported.

Falling short of analysts’ expectations that home sales would rise to a 299,000 unit pace in August, the month’s sales came in at a 288,000 unit annual rate, which, according to the U.S. Department of Commerce, was unchanged from the prior month.

July’s rate was revised up from a previously reported 276,000 unit pace.

Though the housing market is showing signs of stabilization after a drop in sales following the end of a homebuyer tax credit in April – home construction was up last month, as were sales of previously owned homes – the sector remains subdued amid a 9.6 percent unemployment rate.

The number of new homes available for sale fell 1.4 percent to 206,000 units, the lowest since August 1968.

In August, there was 8.6 months worth of new homes on the market, down from 8.7 months in July, as the number of new homes available dipped to 206,000, the lowest level since 1968.