Weekly Scorecard 2-7-11
The inventories remain extremely low and sales are strong. Overall the inventories are the lowest they have been in years. I have speculated the reason for this is the declining amount of distressed inventory. If you view the February stats you will the overall trends point to declining inventopries but pricing remaions flat. The average per sq. ft. prices are remain flat por slightly down. Until these prices rise there will be no incentive for nondistressed sellers to briong propoerty to the market. The question is how long will this squeeze play occur.
The spreadsheet is here: Weekly scorecard 2-7-11