by Calculated Risk on 2/22/2021 11:08:00 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.

Click on graph for larger image in graph gallery.

This inventory graph is courtesy of Altos Research.

As of February 19th, inventory was at 337 thousand (7 day average), compared to 723 thousand the same week a year ago.  That is a decline of over 53%.

A week ago, inventory was at 344 thousand, and was down 53% YoY.  Seasonally inventory should bottom by early March.

Mike Simonsen discusses this data regularly on Youtube.