by Calculated Risk on 4/05/2007 01:39:00 AM

From the WSJ: Housing Inventory Surges in March

Using data from ZipRealty, the WSJ reports that housing inventories in 18 major U.S. metropolitan areas increased 6.5% from the end of February to the end of March. The typical increase in inventory is 1.7% from the end of February to the end of March according to the article, citing Credit Suisse.

The National Association of Realtors previously reported inventories were 3.748 million nationwide at the end of February. This ZipRealty report suggests inventories will be close to 4 million units at the end of March.

In Housing: Supply Demand Imbalance, I estimated inventories might reach 4.5 million units this summer, or approximately 9.5 months of supply.