"Virtue gives birth to tranquility, tranquility to leisure, leisure to disorder, disorder to ruin… and similarly from ruin, order is born, from order virtue, from virtue, glory and good fortune." -- Niccolò Machiavelli

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Altos reports that active single-family inventory was up 1.1% week-over-week. Inventory is now up 32.1% from the February seasonal bottom, and at the highest level since July 2020. This inventory graph is courtesy of Altos Research.