Yes, this thread is about inventory. And it would be nice to see YOY from 1996 to 2008. I still remember inventory in the 2002 to 2005 averaging about 5K homes on the SD MLS. So although it has come down to nearly 15K from 20K, I would not be too quick to label this some kind of recovery trend. The numbers are very misleading right now as the market is in big turmoil. Bank REO’s, Short sales, etc…throw off all the norms we’ve built-up over the years. As Mr Mortgage would say,”This is not an organic market”. As in one owner occupied seller selling to a buyer who intends to occupy the home.
Actually, in a way, I think this market may be more speculative than in previous years.