Countywide we are at 18,975 essentially flat from 18,955 last week. My guess is that we are at peak inventory based upon prior year patterns.
Look for the divergence between the two data points to continue to grow.
Yesterday I saw a stat in the UT that 17% of closed sales in June were at prices below the purchase price. Throw in selling costs and I wouldnt be surprised if 25% of June sellers had capital losses.
