1,000 properties here, 1,000 there sure add up

This chart from appraisal firm Miller-Samuel shows month-to-month changes in Manhattan housing inventory since the beginning of 2006.

The chart above graphically illustrates how much the housing market has undergone a transformation in the last few years.

What is more or less similar over the period are seasonal changes – e.g. the drop in supply as sales jump in the spring.  “Jump” does not, perhaps, apply this year.  It was more like a hop that, anecdotally, seems to be fading.  (Second-quarter figures will be released early next month, and you’ll find them in my newsletter on July 10.)

It appears that the trend line for this year