If one examines the link which is just one of many indicators, but an important one . . . namely the inventory of unsold homes, one finds that at least in SD the inventory since April yoy is basically flat (slightly up one month, slightly down 2, slightly up one) on a “y e a r o v e r y e a r” basis. I threw out for the wise PIGS to comment on what this means especially when the other markets in the southwest have continued to climb. It is a fact that inventory is at a record high it is not still increasing as of April of 07 according to the statistical body of information used by the people at the website (MLS listings). Never said its a bottom, never said there is not more downside, just am trying to determine if this stablized inventory portends anything with respect to a bottom in the market. Even if it does portend a pending bottom (a big if) we could be at the bottom for some time unless the Congress decides in an election year that they need to bribe for votes all the lame brained buyers who “bet it all on red” by getting a sub-prime loan on a value bloated SFH at the top.
