|
Existing Home Inventory
|
. |
|
|
 |
| MOST RECENT STATISTIC: |
3,984,000 |
|
|
| GRADE: |
F |
| PERIOD COVERED: |
July 2010 |
| Date Released: |
08/24/10 |
|
|
|
| Next Release: |
09/23/10 |
|
|
|
|
|
|
07/10 |
06/10 |
05/10 |
07/09 |
|
|
| Inventory (000s) |
3,984 |
3,887 |
3,893 |
4,062 |
|
| % Change |
- |
2.5% |
2.3% |
(1.9%) |
|
| Months of Supply |
12.5 |
8.9 |
8.3 |
9.5 |
|
| % Change |
- |
40.4% |
50.6% |
31.6% |
|
|
| Source:
National Association of Realtors |
Analysis for the Housing Market
By:Ken Lee
Inventory of existing homes increased 2.5% percent to a preliminary 3,984,000 units from 3,887,000 units in June. Existing home inventory levels are now back to their highest levels since April. However, July's inventory level is 1.9% lower than the 4,062,000 units of inventory on the market during the same year-ago period.
Months of existing home inventory jumped in July due to a plunge in sales activity and an increase in the number of existing homes for sale. At the current sales pace, there are 12.5 months of supply of existing homes on the market compared to 8.9 months in June. Months of inventory is now currently at an all-time high.
Definitions and Importance for the Housing Market
By:Ken Lee
Existing home inventory figures are closely watched by homebuilders and lenders. Housing inventory is a seasonally adjusted number of existing homes available for sale at the end of each month. Months-of-supply is the number of months it would take to sell the housing inventory based on the current annualized sales rate.
The inventory of existing homes is an excellent indicator of housing demand. The direction of change in inventory levels is an early indicator of the health of the housing market.
For more information on existing home sales, go to: http://www.realtor.org/Research.nsf/Pages/EHSdata
For information on new home inventory at the metropolitan level, see the Market Monitor or New Home Executive Summary at
www.hwmarketintelligence.com.
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