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There’s a new housing blog out there. That’s nothing new, there’s a new housing website every five minutes at the moment, but this site does have a very interesting feature.
The site, Paper Money, has an inventory tracker that allows the user to keep tabs on exactly how many homes there are listed for sale in a particular city.
Other sites have done that before, such as Bubble Markets Inventory Tracking, but Paper Money goes one step further.
You can search exclusively for single-family homes, multi-family homes, condos or land in each city. When the search results come up, they are split into price categories, so you can keep track of exactly how many homes there are in each price range.
Economists keep a close eye on inventory because that essentially represents the supply of housing. When supply goes up, prices normally come down. With this new tool, interested parties can track not just the overall supply of housing, but the supply of all different segments of the market.
It’s the most comprehensive breakdown of inventory I’ve seen on the web.