cheaprealty net

Okay, this time I thought I'd try something different, like comparing the months of inventory based on February 2008 numbers vs average sales from the three months of February 2008 and March and April 2007. This gives a better estimate of months of inventory (MOI) on hand going forward, based on no additional listings to speak of piling on and a pick-up in sales.

Frankly, I expect sales numbers to be lower this year, so these numbers are probably a bit better than they will look in another few months, but let's work with them.

As you can see, the impression of a hot market continues to burn at the bottom of the affordability bracket. Listings are skewed above the median prices for all property types, and so are the months of inventory above the medians. Looking at the three month average, things look a bit better, but of course looking at the numbers on a month to month basis going forward should yield a different and not so nice result, unless of course unit sales this year exceed last year, which so far they are not on track to do. Months of inventory are rising in all above median brackets, however you look at the numbers.