Inventory drops 20% from 2011

Nationwide existing-home inventory is down a bit more than 20% from a year ago, according to the latest numbers from HousingTracker. (NAR’s numbers aren’t out for April, but those usually mirror HousingTracker’s pretty closely.)

A couple of caveats, as always.

It’s the beginning of the year, so inventory will increase in the next few months as it always does.

Inventory has been dropping for a while, so don’t expect big declines to continue — eventually it will hit normal levels.

There’s still that shadow inventory — homes in the REO/foreclosure pipeline — that hasn’t hit the market yet. Who knows what effect that will have?

Read more over at Calculated Risk.

About Andrew Kantor

Andrew is VAR's editor and information manager, and -- lessee now -- a former reporter for the Roanoke Times, former technology columnist for USA Today, and a former magazine editor for a bunch of places. He hails from New York with stops in Connecticut, New Jersey, Cincinnati, Columbus, and Roanoke.
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