Feb. home resales fell by 7%....

[Nate Wightman]

Hi all .. any opinions on home resales slumping due to the economy or possibly an inventory issue??

Any other areas seeing a low inventory??  I was just trying to get a feel beyond Denver.  thanks

[Bill S.]

@Russell Brazil not to one up you but to one up you. "Normal" inventory or perhaps historically balanced inventory is about 12,000 homes on the market. Right new we hover around 3,000-4,000 and have so for the last year or so. 

@Nate Wightman probably the drop in sales is inventory. I would say February being a short month and with the super bowl being in the first week it made February very quick. There were also some unusual weather issues in other parts of the country. In Denver, the numbers say we will see a hot market for the rest of the year.