Monday, April 09, 2007

Housing Inventory Surges

by Bill McBride on 4/09/2007 11:04:00 AM

From the O.C. Register: O.C.'s spring home inventory grows

[Steve Thomas at Re/Max Real Estate Services in Aliso Viejo says] it would take 6.57 months for buyers to gobble up all homes listed for sale at the current pace of deals vs. 6.09 months two weeks earlier; vs. 4.59 months six weeks ago (a 43% jump); and vs. 3.62 months a year ago.
Surging inventory, both in total units and months of supply, will probably be a common story over the next few months.