Home › Forums › Housing › SD New Home Sales up 42% – Existing inventory down 15% YOY — Means what? › This means that inventory is
This means that inventory is down 15%. Prices have been falling steeply. Builder have steep discounts as well.
“want to” sellers are not putting their house on the market, keeping the inventory flat.
Inventory by itself is meaningless. Inventory relative to sales is more meaningful (e.g. months of inventory.
Number of sales of existing homes is still anemic.
These numbers do not mean we are in recovery … yet. But I do believe that the activity on the lower end means that we are approaching a bottom.
