First of the month inventory numbers

[cheapseats]

I see that the number of KC SFH fell today more than they have for the last several 1sts of the month. It appears thatnumbers change between 0400 and 0600.

Anyone have thoughts about why this would be, or is it an uptick in sales hitting?

July
0400 13159
0600 12826
Change -333

June
12749
12542
-207

May
11835
11620
-215

April
10996
10769
-227

[redmondjp]

The number is going to vary as it depends upon how many listings expire at the end of the previous month.

[deejayoh]

Lots of closings occur at the end of the month, so you always see a bigger drop that day

As to where we end up this month, It's hard to tell because the feeds seem to have become somewhat unreliable - but my best guess is that inventory levels will be a few hundred units higher than they were at the end of last month.

From what I see, this is fairly typical summer pattern. The last few years, where we saw huge jumps in the summer were deviations from the norm.

Personally, I have been expecting this. Now that we are into record territory for inventory levels - and prices are dropping - inventory growth is going to slow down.

I expect it will stay fairly flat over the summer, topping out between 14 and 15k units in Sept/Oct.

[cheapseats]

From my own observations, I have a pile of houses in Redfin that I am watching, in May several went to contingent status. In the last three weeks not one has changed to contingent, actually several have come back to active status.

[deejayoh]

[Civil Servant]

Cheapseats, me too! Regarding Contingent listings going back to Active, I mean. And in the same time frame you mention. Also -- on the one hand this is anedotal and on the other hand I probably have 500 houses in my Favorites by now -- very recently sales seem to have shriveled. For the past four days, my inbox has seen nothing but price drops and listing reactivations. A beautiful thing, from my perspective.

[cheapseats]

Seems like the inventory just dropped for some reason.

07.28.2008 17:00 13487 13704
07.28.2008 18:00 12809 13704