Low, low, super low!

I talk with some regularity about how low inventory levels are right now  This is not just a seasonal thing.  Inventory levels don't get this low every year at this time and then rise again in the Spring and Summer. 

In fact, as shown above, for the past there years at this time there have always been between 539 and 550 homes for sale -- that is a pretty consistent track record.  This year, however, there are only 405 homes for sale -- marking a 25% decline in the number of homes for sale.

it gets worse by price range, by the way.  There are 44% fewer homes on the market in the "under $200K" price range right now as compared to a year ago.