I’ve just finished crunching numbers for April and one item really jumped out at me – Months supply of homes.
April 2009 Months Supply = 7.1. This is the lowest number since July 2007! (based on preliminary data)
Months supply is a key measurement in the housing market because it provides a basis for comparing the both the supply and demand sides of the equation. With inventory steady over the past 5 months while sales have been going up this number is improving dramatically.
