Existing Home Inventory increases 8.9% Year-over-Year: CR

From the CR post.

Note: Usually July is the peak month for inventory.

The year-over-year increase in inventory is very bad news because the reported inventory is already historically very high (around 4 million), and the 10.7 months of supply in September is far above normal.

And double digit months-of-supply suggests house prices will continue to fall.

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