Inventory decreased slightly last week. Still, inventory decreased less than in 2019 at this time of year. Here are the same week inventory changes for the last four years:
This inventory graph is courtesy of Altos Research.
1. The seasonal bottom (happened on March 4th for Altos) ✅
2. Inventory up year-over-year (happened on May 13th for Altos) ✅
3. Inventory up compared to two years ago (currently down 5.4% according to Altos)
4. Inventory up compared to 2019 (currently down 42.2%).