One of the key questions for 2021 is: Will inventory increase as the pandemic subsides, or will inventory decrease further in 2021?
Tracking inventory will be very important this year.
Click on graph for larger image in graph gallery.
This inventory graph is courtesy of Altos Research.
As of June 11th, inventory was at 342 thousand (7 day average), compared to 698 thousand the same week a year ago. That is a decline of 51.0%.
A week ago, inventory was at 329 thousand, and was down 53.3% YoY. Seasonally, inventory has bottomed.
Inventory was about 11.6% above the low in early April.
Mike Simonsen discusses this data regularly on Youtube.