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US housing inventory rising off seasonal lows, to the detriment of prices [ClearOnMoney]
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US housing inventory rising off seasonal lows, to the detriment of prices

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Commentary

US housing inventory rising off seasonal lows, to the detriment of prices

29 May 2012 by Jim Fickett.

Last week the National Association of Realtors reporting existing home inventory for April, which showed housing inventory continuing to rise off of seasonal lows. Today S&P reported the Case-Shiller house price indices for March; the seasonally adjusted 20-city index showed prices approximately unchanged, with last month's very small rise moderating to an even smaller rise. It is difficult to know whether prices are near the bottom or not, but the high inventory of homes on the market, and the large backlog of dud loans, strongly suggests there will be no strong recovery in house prices for some time yet.

(See the Reference page Inventory of existing US homes for background and sources.)