The total monthly inventory of un-sold homes continues to decrease in Nassau, Suffolk and Queens. With the exception of April, the total months of inventory has steadily decreased since January ’08. This steady decrease in the monthly inventory is mostly do to the seasonal buyer demand; unfortunately, this chart does not take into account the new inventory coming on the market each month. The new inventory seems to be coming on at a rate of 3 to 1 (3 homes coming on the market to every one sold as seen in charts previously provided). I believe that much of this new inventory is homes that were on the market previously, failed to sell and have re-entered the market.

It is a very good sign that the total months of inventory is down and the trend has been consistent. I would like to see this continue, or hold its current ground through the summer months. This will only happen if the current buyer demand stays constant.

*Please note that the total inventory of unsold homes is still climbing as seen in this chart posted earlier http://longislandrealestateguru.com/?p=59. This chart only reflects the total months of inventory on the market with the current buyer demand and with no additional inventory coming on the market.