While relatively few new sellers put their homes on the market in July, the drop in sales was sufficient to push inventory levels up to 12.5 months.
As the deliveries multiplied, Sinaloa acquired a reputation for the miraculous speed with which it could push inventory across the border.
The number of homes on the market increased only slightly but the large drop in sales was enough to push inventory levels up to 12.5 months.
"Hotels are doing all that they can to make up for it during the fall and holiday travel season, and they're turning to online travel agencies to help them push inventory".
It also means retailers' margins are tightening as companies push inventory on consumers at drastically reduced prices.
Downward price pressure will continue to exist as long as inventory is so high, and it's going to be hard to push inventory levels down with foreclosures pouring in, negative equity spurring foreclosures, and sellers who've been on the sidelines the past couple of years trying to get back into the market.
Crude oil prices opened the year yesterday with an increase of more than 2percentt, as a month-old Venezuelan strike cut further into American imports and pushed inventories toward a 26-year low.
[World Business, Section W.] Oil Prices Up as Inventory Falls Oil prices increased 65 cents to $31.85 a barrel as strike in Venezuela cut into imports and pushed inventories toward a 26-year low.
That increase, combined with an expected 1.2 mmbpd increase in non-OPEC production next year, should push inventories to record highs and ensure significantly lower prices by next spring or summer without OPEC scaling back production.
WASHINGTON (Reuters) — Sales of new single-family homes rebounded strongly in June from the previous month's record low, pushing the inventory of new houses on the market to the lowest level in nearly 42 years, according to government data released Monday.
