Thursday, March 08, 2007
Houston, we have a problem. A million of them.
Notice something? The national home inventory spiked over a million. Inventory growth was already on that path, but it just cossed the mark on March 8th, 2007 (I noticed at 4pm PST). Yes, this only cut about two and a half weeks (18 days, to be precise) over when it was trendlining to break a million...
But what caused the spike? ziprealty error? New areas in Ziprealty? Panic and Mehem? (I doubt the last... but wait for it. That will eventually come.)
The red dot is my predicted maximum inventory for the year (previously blogged). It hasn't changed much. (Any good regression shouldn't be effected much by one data point.) Actually, it was a little down... we're still in the 1.3 to 1.4 million target range.
Some grammer and noted ziprealty, at 8pm, is at 1.01 million homes for sale nationally! So this wasn't a one minute fluke...