Since we have New Home Sales at 10:00am this morning, let’s take a look at U.S. House Inventory, Priced in Dollars:
Chart courtesy of Macromavens via The Gartman Letter
Note the series of higher highs and higher lows.
That’s a pretty astonishing increase in total inventory value. I’m not sure if its based on the listed price or comparables, but either way, t implies that prices will be coming further down in U.S. Real Estate.