Given that year-over-year drops in inventory have slowed for each successive month in 2013, housing inventory likely reached a bottom early this year, blogger Bill McBride wrote in a post today on his blog at Calculated Risk.

“Watching inventory during the bubble helped me call the top of the housing market,” wrote McBride, who was one of the first to warn about overpriced housing during the runup to the housing crisis. Watching inventory is also important, he noted, because of its impact on prices.

Source: Calculated Risk

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