The Manhattan Inventory Report for 6/19/2013

The Manhattan Inventory Report for 6/12/2013

 State of the Market

The Manhattan Inventory Report for 6/19/2013   State of the Market  The Manhattan Inventory Report for 6/19/2013  And the plunge continues.... My apologies for being AWOL for a few days. My daughter had a diving meet over the weekend and it took me two days to catch up. But nothing different happened during my absence. In my time away inventory dropped from 4655 units to 4639 to 4616 to 4601 to this mornings 4573..A loss of 82 apartments in 5 days. This brings inventory to 4573 the lowest since 1/8/2013. Yes it's only a 5 month low. But the problem is that the low achieved on 12/31/2012 was the lowest since Urban Digs started keeping track of these data points back in January of 2008. That low was 4491 active listings, easily within reach. How low will available inventory fall once that low is breached? Any ones guess as it will be uncharted territory.. Today's chart shows 9 months of data so you can see the dropoff while I was away.

The Manhattan Inventory Report for 6/19/2013