Weekly Scorecard 1-24-11
Still no bump up in inventories. Usually this time of year you will see inventories starting to rise and then about a month later sales increase. The increase of inventories has usually started by now. The rate of sales has moderated but both pending and closed sales are at good numbers. As discussed last week it appears that there is a declining amount of distressed sellers forced to bring the inventory to the market and that it appears that prices are not good enough to bring non-distressed sellers to the market.
The spreadsheet is here: Weekly scorecard 1-24-11