Weekly Scorecard 5-24-10
It appears inventories have peaked. When you look at the spreadsheet the inventory increase for now have leveled but while sales appear robust the pending sales have fallen off some. The combination of peaking inventory and peaking sales volumes will keep this market reading water. The actual closed sales look impressive and they are but the pending sales need to increase to keep any upward pressure on this market. For right now it appears to be just muddling along.
The spreadsheet is here: Weekly scorecard 5-24-10