A Graphic Look at Housing Inventories

Wsjchartrisinghomeinventories200628_2 From today’s WSJ: "The supply of unoccupied condominiums is also climbing in many areas. In New York’s Westchester County, the number of condos on the market jumped to 617 at the end of 2005 from 397 a year earlier. In the Boston area, the number of condos listed at the end of January was 5,114, up from 2,876 a year earlier. In the Washington, D.C., metro area, new-home inventory climbed by more than 900% to 2,413 in the fourth quarter over the same period a year earlier, largely because of the completion of several condo projects, according to Hanley Wood.”  No matter the reason, a 900% jump in inventory is, understatedly, significant!