Valley's house supply slowly dropping
Monday, August 04, 2008
Edward Gately, Tribune
The inventory of single-family houses is slowly dropping across the Valley, according to Metrostudy, a national housing tracking and consulting company.
Total single-family inventory, which comprises units under construction, finished vacant units and model houses, numbered 19,689 units at the end of the second quarter, a decline of 11,273 units from the end of the second quarter of 2007. Total housing inventory has declined 54 percent since mid-2006.
Despite the decline, builders still have inventory problems. The relative supply of finished vacant houses, measured in months, is elevated, Metrostudy said.
