Today's Word Is Inventory

Today's word is inventory. Professor Wobble: inventory is the homes for sale, waiting for a buyer. Bitsy: how many? 1.6 million, 4.8 months' worth (up from 4.5 a year ago). Pip: 33 days to sell a home now. Bitsy: more homes, slower sales (a 3.99 million pace, down 2.2% on the year). Mort: even the Realtors' economist says sellers may need discounts. Brought to you by the number 4.8.

Behind the mortgage arithmetic the market has slowed: homes sold at a 3.99 million annual pace in September, down 2.2% on the year, 1.6 million were unsold, 4.8 months' supply against 4.5 a year ago, the typical home took 33 days to sell, and the Realtors' chief economist says sellers may need price discounts to attract buyers even though the median price has risen for 39 months.

Starring

PipProfessor WobbleBitsyMort