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Michael White is the CEO of The New Mortgage Company. He has seventeen years in real estate as lender, owner, and mortgage originator. He has purchased and sold more than 275 properties for his own account, made hundreds of real estate loans for his portfolio, and originated hundreds of mortgages as a broker.

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Single-Family Inventories Remain Oversupplied by 900,000 Units

units for sale NAR 1999 to 10 2009

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.

There Are 3 Responses So Far. »

  1. 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?

  2. Good suggestions. I will put together a graph for that. Thanks for the note. mdw

  3. […] The original post is at the new Implode-O-Meter blog. […]

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