by Calculated Risk on 6/07/2021 10:38:00 AM

One of the key questions for 2021 is: Will inventory increase as the pandemic subsides, or will inventory decrease further in 2021?

Tracking inventory will be very important this year.

Click on graph for larger image in graph gallery.

This inventory graph is courtesy of Altos Research.

As of June 4th, inventory was at 329 thousand (7 day average), compared to 706 thousand the same week a year ago.  That is a decline of 53.3%.

A week ago, inventory was at 327 thousand, and was down 54.5% YoY.  Seasonally, inventory has bottomed.  

Inventory was about 7.5% above the low in early April.

Mike Simonsen discusses this data regularly on Youtube.