Resales supply is down 20% year on year

Source: Calculated Risk

Another update: I've been using inventory numbers from HousingTracker / DeptofNumbers to track changes in inventory. Tom Lawler mentioned this last year.

According to the deptofnumbers.com for (54 metro areas), inventory is off 20.4% compared to the same week last year. Unfortunately the deptofnumbers only started tracking inventory in April 2006.

Since the NAR released their revisions for sales and inventory, the NAR and HousingTracker inventory numbers have tracked pretty well.

Seasonally housing inventory usually bottoms in December and January and then starts to increase again through mid to late summer. So seasonally inventory should increase over the next several months.

HousingTracker reported that the early April listings - for the 54 metro areas - declined 20.4% from the same period last year. The year-over-year decline will probably start to slow since listed inventory is getting close to normal levels. Also if there is an increase in foreclosures (as expected), this will slow the year-over-year decline.

This is just inventory listed for sale, there is also a large "shadow inventory" that is currently not on the market, but is expected to be listed in the next few years. But this year-over-year decline remains a significant story.

URL to original article: http://www.builderonline.com/builder-pulse/resales-supply-is-down-20--year-on-year.aspx?cid=BP:040612:JUMP

For further information on Fresno Real Estate check: http://www.londonproperties.com