Months of Supply of Existing Housing on the Market

On October 25, 2010, Calculated Risk (Bill McBride) posted the updated numbers from the National Association of Realtors concerning the nationwide months of supply of existing homes on the market.  As illustrated in the chart below,  supply decreased to 10.7 months in September from 12.0 months in August.

The existing housing inventory number remains extremely high.  As McBride points out, suggests prices, as measured by the repeat sales indexes such as Case-Shiller,  may show further declines in coming months.

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