We both obviously concur that the inventory numbers “bear watching” for those who have an interest in buying at some point in the future.
I also agree that this subtle shift in one of many important factors does not portend a bottom . . . just that it is a current hard fact that should be given its appropriate weight when sifting all of the “tea leaves” that must be read if one is to be able to divine the future of an equity market. When a bottom to the SD RE market occurs at some point in the future it will first be preceded by steadily shrinking inventory. This yoy 0.8% drop in inventory certainly does not equate to “steadily shrinking” but it does mean that inventories are no longer expanding as they have for the last 12-18 months.
Again . . . I gain great insight from bringing facts such as the inventory numbers and throwing it out to the Pigs for feedback and reasoned analysis. I have also learned that along with the reasoned analysis such as yours one has to put up with much hot air spewed by others. As they say . . . sometimes “you have to wade through a lot of $hit to get to the pony.”
