The Construction Industry Federation has said there is a need for accurate, reliable data on housing stock levels.
It was responding to research by UCD which found that there are 345,000 vacant houses and apartments across the country.
The CIF acknowledges that the figure is high but said different studies have come back with a variety of figures.
Its own figures suggest that 35,000-40,000 new homes remain unsold.
It says in Dublin the problem of unsold housing will resolve itself in around nine months, and with no development in the pipeline waiting-lists for housing will result in high growth areas.
The CIF admitted there is a problem in many counties around the country but said the market will ultimately sort that out.
The CIF's Hubert Fitzpatrick denied that developers built too many houses at the height if the boom and said, ‘developers built to the demand that existed at the time.’
The UCD report says the National Asset Management Agency could delay the normal market recovery process by seeking to prevent downward price corrections.
Taking out holiday homes, dereliction and factoring in a normal vacancy level to facilitate the rental market, the UCD study finds the country still has 170,000 houses and apartments it does not need.
In excess of one in five homes outside the greater Dublin area are empty compared to around on in 12 in and around the capital.
In a market so blighted by oversupply, the report finds house prices are still at very high multiples of average incomes.
Vendors, according to UCD, are unwilling to reduce prices. But such is the scale of oversupply, the report finds further price falls are inevitable.
It says Government policy aimed at maintaining price levels with so much over supply could prove both ineffectual and wasteful.
Social housing
The Minister of State with responsibility for housing, Michael Finneran, said some partially-built houses may need to be knocked down at some stage, but for now he wants to use empty units to alleviate the social housing waiting lists.
Mr Finneran said he plans to fill 4,500 vacant units this year, as part of the long-term leasing project.
A county-by-county calculation of the number of unfinished housing estates is taking place currently.
Once it is completed, the Department of the Environment along with local authorities will decide what can be done to remedy the problem, including the introduction of incentives.
