Single-Family Inventories Remain Oversupplied by 900,000 Units
Inventory of single-family homes fell 60,000 units in October. They remain oversupplied by 908,000 units when compared to the long-run average.
The total of existing units for sale equals 3.57 million, according to the National Association of Realtors (NAR) in its release today of October data. The long-run average is 2.66 million.
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Michael David White blogs at NewObservations.net.
Comment by CATHERINE on 23 November 2009:
Are they counting the 7 million in foreclosures not out yet??? Are they counting homes without mortgages? Are they even realizing that baby boomers who make up 36% of the buyers are saying they won’t buy again……….or that 26% of the buyers, Gen Xers are struggling…..don’t think so……….or last but not least, there will be 50 million unemployed by June 2010?
Comment by MichaelWhite on 23 November 2009:
Good suggestions. I will put together a graph for that. Thanks for the note. mdw
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