Paul Martin, a Realtor with US Preferred Realty in Mesa, emailed me saying he believed the slight fall in inventory was due to high levels of expired and canceled listings and not due to increased sales. That is, that the fall in inventory was due to frustrated sellers who have given up on selling their homes.

My point wasn’t that sales increased but that new listings decreased.

You can see previous discussions here and here.

Which is it? Frustrated sellers or fewer new listings?

Click the link below to see how it shakes out.

What do you think?