It has been a while since we spoke specifically here on the blog to inventory levels. Let's try showing, before telling:
We had to adjust the top end of the scale (again) to make room for the recent-record number hit in mid-July: 133 homes for sale in Manhattan Beach. (After we closed data for this report, inventory temporarily hit 135.)
One year prior, there were 71 homes for sale. So this year, while it's not double that level, it's close: 87% higher.
But there is a brighter side here. The sales pace is no longer lagging badly from what was seen in prior years.
In early April, just after the first quarter of 2016 closed, we published "Fewest Sales in 5 Years," showing, with data, that sales were trailing 7% behind recent years if we looked only at…