The July data for Destin Home Sales is now in. A close analysis reveals an interesting trend developing. The graph below shows the inventory levels of homes in Destin, by month, for 2009. This graph includes all price ranges.
As can be seen, inventory levels have generally been trending down for the past six months. On a percentage basis, the decline is relatively small, but still indicates a leveling off of the market.
The more interesting trend is observed when we analyze what is happening at prices below $500,000. Sales in this range have been extremely strong primarily because they are affordable for more people. The inventory levels for these homes is shown below.
As can be seen here, the inventory is also declining but at a…