by Calculated Risk on 1/25/2021 11:09:00 AM

One of the key questions for 2021 is: Will inventory increase as the pandemic subsides, or will inventory decrease further in 2021?

Tracking inventory will be very important this year, and I'll be using some weekly sources.

Click on graph for larger image in graph gallery.

This inventory graph is courtesy of Altos Research.

As of January 22nd, inventory is at 380 thousand (7 day average), compared to 736 thousand the same week a year ago.  That is a decline of 48%.

A week ago, inventory was at 389 thousand, and seasonally inventory should bottom soon.

Mike Simonsen discusses this data regularly on Youtube.