May 2006 Inventory
Inventory growth accelerated in May, posting the largest month-to-month gain for 2006, according to three inventory tracking sites. So far housing inventory has grown at least 47% in 2006.
Sacramento Housing Bubble:
4/30/2006: 12,754
5/31/2006: 14,822
+16% in May
+47% in 2006
Bubble Markets Inventory Tracking:
4/30/2006: 12,989
5/31/2006: 14,824
+14% in May
+47% in 2006
Housing Tracker:
5/1/2006: 8,914
6/1/2006: 10,087
+13% in May
+47% in 2006
Sacbee.com:
4/2006: 11,344
5/2006: 13,146
+16% in May
+54% in 2006
+149% in one year
(Note: The four sites use different sources for their numbers. Please see the individual sites for more information on methodology and areas of coverage.)
This graph shows housing inventory for the Sacramento housing market as reported in the Sacramento Bee since February 2005. 
If that's not enough inventory info for you, the Sacramento Real Estate Statistics blog breaks down the inventory data by price range.
1 comment:
With an inventory of almost 15,000 homes and sales averaging about 1,500/month, you don't have to be a rocket scientist to figure out that there's 10 months of inventory out there. That puts us squarely into oversupply mode. Add the reemergence of short sales, increasing foreclosures... all the pieces for a downturn are in place -- except one -- employment remains neutral to somewhat positive.
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