Housing inventory up 40% yoy. Signals in construction activity are mirroring the period leading up to the 2008 crash.
Altos reports that active single-family inventory was up 1.1% week-over-week. Inventory is now up 32.1% from the February seasonal bottom, and at the highest level since July 2020. This inventory graph is courtesy of Altos Research. As of July 5th, inventory was at 653 thousand (7-day average), compared to 646 thousand the prior week. Inventory is still far …