Hey all, sorry for the delay… I’ve traveling, but I wanted to at
least put some charts up. Mostly just charts but here are couple
First, the probability grows that there was something to last
months’ price decline, as we’ve had another month at that price
level. (See the prior update for musings on how much of the decline
was real vs. noise). Still, I put a ton more weight on the
(unfortunately 2-month lagging) Case-Shiller index than on the
median price/square foot.
Second, look at that move up in months of inventory. In just a few
months, we’ve gone from epic lows to middle of the road post-bust
levels. I’m very curious to see where that months of inventory
figure goes from here.