Inventory Swelling

Posted by Dave Fratello on Tuesday, April 1st, 2008 at 5:29am.

We've now closed our spreadsheet for the month of March, and here we are with the highest inventory figure MBC has reported since its inception a year ago: 97 SFRs west of Sepulveda.

It has been a steep and almost unbridled climb since the first of the year.

As is clear in the graph, we've now substantially exceeded the June 2007 peak of 83.

It could be worse. In the month of March, we saw 7 cancellations, expirations and withdrawals. (Ignoring, of course, the cancellations followed immediately by a bogus re-list.)

We saw 13 sales (new escrows) in this period west of Sepulveda, which also helped tamp down inventory levels. That figure was lower, however, than February's new-deal figure of 19.

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UPDATE: We revised the graph, inventory and sales numbers slightly after publication. Turns out we had to re-open the spreadsheets for a moment to make changes.
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