Signs of the times

Metro Detroit had a staggering 18.9-month supply of homes for sale at the end of 2007, and some cities were swamped with four years or more worth of housing inventory that people are desperately trying to sell.

That's almost double the national average of 9.6 months of existing home inventory at the current sales pace, itself a sign of trouble in the U.S. housing market where a three- to six-month inventory is considered normal.

[From Crisis yields 18.9-month supply of homes | Freep.com | Detroit Free Press]