Slow but steady inventory growth suggests 2013 was the bottom

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The inventory of homes for sale as of Feb. 3 in 54 metro areas tracked by the website “Department of Numbers” was up 2.7 percent from the same time a year ago — the 16th consecutive week of annual gains, and a sign that inventory bottomed in early 2013, Calculated Risk’s Bill McBride says.

“Inventory is still very low — and barely up year over year — but this increase in inventory should slow house price increases,” McBride writes.

The well-regarded blogger thinks inventory could be up 10 to 15 percent by the end of this year — an increase that would still leave the supply of homes below normal. Source: calculatedriskblog.com.