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November 1st, 2007 9:38 AM by David W. Welch
The new home inventory is dropping like crazy. The total number of new homes from start to finished inventory is down 36.3% from last year to 10,412. That represents a six month supply. Even better news is that new home starts are down 46.9%. This means that we should work through a good bit of this new home inventory by first quarter of 2008. This is right where I had hoped we would be. Check my other blogs on this at www.davidwelch.com. The existing home inventory is continuing to remain steady since the Summer. We should even see a drop with the holidays.
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