by Calculated Risk on 7/05/2021 12:10:00 PM
Tracking existing home inventory will be very important this year.
This inventory graph is courtesy of Altos Research.
As of July 2nd, inventory was at 373 thousand (7 day average), compared to 666 thousand the same week a year ago. That is a decline of 44.0%.
A week ago, inventory was at 359 thousand, and was down 46.9% YoY.
Seasonally, inventory has bottomed. Inventory was about 21.8% above the record low in early April.
Mike Simonsen discusses this data regularly on Youtube. Altos Research has also seen a significant pickup in price decreases, although still well below a normal rate for June.