REBGV May 2019 Total Inventory

The sudden loss of momentum in Total Inventory (TI) is most certainly disappointing to the buyers who were hoping for a 2008- or 2012-like TI increase.  It looks more likely that it will follow the trajectory of 2011 (purple line) for the next few months.  The sudden change in direction is due to following combination of events:

1. Continued record-high De-listings
2. Mediocre New Listings
3. More than anticipated month-to-month rise in Sales