New housing supply outpaced sales across five Northeast Thailand markets in H1 2026

New launches surged while the unsold stock rose to 13,421 homes

The Real Estate Information Center (REIC) of Thailand's Government Housing Bank released its first-half 2026 survey of five major northeastern markets on October 2. Across the surveyed provinces, total housing supply reached 15,777 units, up 4.4% from a year earlier, with a combined value of THB53.24 billion.

Developers launched 2,224 new units worth THB6.80 billion during the period, a 62.3% year-on-year increase in volume. New sales reached 2,356 units worth THB7.78 billion, only 0.5% higher than in the first half of 2025.

That imbalance pushed remaining inventory up 5.3% to 13,421 units, valued at about THB45.46 billion. REIC put the average absorption rate at 2.5% per month, equivalent to roughly 34 months of supply at the current sales pace. Condominiums were estimated at about 22 months of supply, compared with 44 months for housing estates.

Those months-of-supply figures are based on the current absorption rate. They are a market indicator, not a fixed timetable for when every unsold unit will be sold.

For practical context, see How to buy property in Thailand. This development also connects with Chiang Mai housing stock equals about 50 months of sales.

Khon Kaen strengthened while slower markets still carry long sales periods

Khon Kaen was one of the stronger markets in the survey. Total supply rose 6.0% to 6,760 units and new sales increased 17.4%, helped by a 70.0% increase in condominium sales. Its remaining stock was estimated at about 27 months of supply.

Nakhon Ratchasima moved in the opposite direction. New sales fell 23.7%, and although remaining inventory declined to 3,763 units, the absorption rate was only 1.7% per month. At that pace, the stock represented about 51 months of supply.

Udon Thani recorded a sharp expansion on both sides of the market. Total supply rose 74.4%, new launches jumped 719.8% and new sales increased 73.8%. Remaining inventory also climbed 74.6%, leaving about 26 months of supply at the reported absorption rate.

Ubon Ratchathani had a much weaker half, with new sales down 56.3% and an estimated 59 months of remaining supply. Maha Sarakham's active project market was concentrated in low-rise housing, with remaining stock equivalent to roughly 55 months of sales.

The regional average is less useful than the local absorption rate

For a buyer, a large inventory can mean more projects and units to compare, but it does not establish that prices are falling or that a developer will offer a particular discount. The more useful question is how much stock exists in the exact city, segment and location being considered, and how quickly comparable homes are selling.

The resale market also matters. REIC data cited in sector coverage indicate that second-hand homes account for more than 70% of housing ownership transfers in the Northeast, so new projects are competing with a much broader pool of existing properties.

For investors, the first-half figures are a warning against treating Northeast Thailand as one market. Khon Kaen's stronger condominium performance, Udon Thani's rapid supply expansion and the much longer sales periods in Nakhon Ratchasima and Ubon Ratchathani point to different liquidity conditions. The survey covers five provinces and should not be extrapolated to Bangkok, Phuket, Pattaya or Thailand as a whole.