Existing Home Sales Stuck Near Record Low and Inventory Stuck Near Record High

Helpful charts in this; collapsing sales have undercut the market, even though nominally inventory didn't grow much: ``The rate of sales is the second worst on record according to Bloomberg and Marketwatch (but only going back to 1996 according to BNP Paribas). Months-of-supply is also the second worst on records going back to at least 1999 and probably as far back as 1983 (Please see the chart above of months of inventory). Last month’s readings registered extreme lows for both months-of-inventory and the sales rate.''