These 2 stats show how tight the US housing market has become in the last year

Investor purchases of American homes dropped 45.8% year over year last quarter, according to Redfin.The US housing market is historically unaffordable, and home sales and inventory remain low.At the same time, total housing inventory is 14.6% lower compared to a year ago.thanks in part to the Fed's high interest rates and a decade of under-supply of homes across the US.

The second stat ties directly into the home sales figures; total housing inventory is down 14.6% from compared to a year ago, according to the NAR. At the end of July, there were 1.11 million units registered, per NAR, for total housing inventory. That's 3.7% higher from June, but is still a far lower reading from last July, when there were 1.3 million units registered.

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Retail earnings, existing home sales, Fed speak: What to watchMore retailers will report their quarterly results on Tuesday, with earnings from Lowe's (LOW), Dick's Sporting Goods (DKS), Macy's (M), and Urban Outfitters (URBN) on tap. When it comes to economic data, all eyes will be on existing home sales. Investors will be looking to see if there is any sign more inventory is hitting the market. There are also a number of Federal Reserve officials speaking, including Richmond Fed President Tom Barkin and Chicago Fed President Austan Goolsbee, who spoke to Yahoo Finance last month. 
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