Thursday, July 22, 2010
Before 2000, the NAR only publishes inventory data on Single Family Sales. Here is the data going back to June 1982 when the NAR started publishing the data. Clearly, they must have started to publish the data back then due to the large levels of inventory. The current level of months of inventory is not that high historically, but high relative to the period 1995-2005 when the housing market was on the way up. Also, we should note that most of the inventory in the early 1980s was occupied housing, while now there is a lot more vacant housing.