Thursday, 22 May 2008

The US housing market in pictures

Continuing our occasional series, more pictures of retail housing gloom. First from Big Picture, house pricesAnd unsold inventoryCalculated Risk likes to look at Sales vs. Inventory normalised by the number of owner occupied units. This gives a sense of the percentage of unsold inventory and the percentage turnover:They argue that since turnover is still above the historic average, the volume of home sales could have further to fall.

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