When things did not go as expected, those low inventories accelerated the price rise.

The company said low inventories held sales below last year's levels.

The low inventories, he said, have also put upward pressure on home prices.

But with lower inventories than some of its rivals, the company does not plan to cut production.

However, the 41 percent of the members surveyed who reported lower inventories was the highest number in four years.

Economists say the low inventory is a sign of a weakness in the economy.

Still, that sector appeared to have a good season, and likely held on to margins as a result of low inventory.

"With lower inventories you have less of a cushion," she said.

As a result of the low inventory, demand has been intense.

In my 18 years in the business I have never seen such low inventory.