Inventory levels stabilizing?

For several years now, there have been many more home sellers in the market than home buyers -- but this has been gradually changing has home sales have increased in pace, and inventory levels have declined.  Now, it would seem that perhaps we are seeing inventory levels stabilize around 650 homes for sale, as we have only seen a 3% decline in inventory levels over the past year.

Here is some context....

• November 2013 = 635 homes for sale
• November 2012 = 655 homes for sale
• November 2011 = 810 homes for sale
• November 2010 = 927 homes for sale

These significant declines in inventory levels have helped to restore a balance between buyers and sellers in our local real estate market.