Housing: Inventory down 24% year-over-year in mid-December
by Bill McBride on 12/18/2012 08:56:00 AM
Inventory declines every year in December and January as potential sellers take their homes off the market for the holidays. That is why it helps to look at the year-over-year change in inventory.
According to the deptofnumbers.com for (54 metro areas), overall inventory is down 23.9% year-over-year and probably at the lowest level since the early ’00s.
This graph shows the NAR estimate of existing home inventory through October (left axis) and the HousingTracker data for the 54 metro areas through mid-December.
HousingTracker also reported that the mid-December listings, for the 54 metro areas, declined 23.9% from the same period last year.