Philadelphia's Market Question

[Jimmy Yu]

Doing some independent research on Philly's housing market and want to hear long-time philly pros' opinion on the market and more importantly the below stat: Philly's inventory has been declining ever since Sept - 2015 and it has not picked back up yet:

https://www.zillow.com/research/local-market-repor...

Very hot market in general in Brewery town, Point Breeze and etc. Price has gone up a lot, but I don't know where is the disconnect now, in terms of the low inventories on the market. It could be permitting/rehab time lag, but I am not a developer and don't have specific data point to know what to expect. 

Any advice/thoughts are appreciated.