Housing Inventory Dwindling Again

I can’t seem to keep up, just as soon as I do my quarterly market update saying there is more inventory than last year at this time I read today that the market index popped back into the neutral zone (90 to 100) today with a reading of 90.2., is housing inventory dwindling again? What does this mean?  If the market index goes above 100, the market favors sellers.  The demand index remains very low at 80.6 but the supply index has dropped to 89.4 making the difference between them small enough for us to call the market “balanced”. When the market index is below 100 that means there is still a small advantage to buyers, but it is now small enough that a strong willed and very patient seller can probably do just fine. If inventory keeps dropping we could have a shortage again like in 2012 and the beginning of 2013. Lets just hope it’s a summer things and we will again see more inventory in the fall.

Photo courtesy of "Business Word" by arztsamui

*Photo courtesy of “Business Word” by arztsamui*

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