by calculated risk May 6, 2024 08:11:00 AM
Altos reported that available inventory for single-family homes increased by 0.6% from the previous week. Inventories are currently up 13.3% from February’s lows.
Click on the graph to see a larger image.
This inventory graph is Altos Research.
As of May 3, inventory was 560,000 units (7-day average), compared to 556,000 units the previous week.
Inventories remain well below pre-pandemic levels.
The second chart shows the seasonal pattern of active single-family inventory since 2015.
The red line is 2024. The black line is 2019. Note that while inventories are up 86% from the same week’s all-time low in 2022, they are still well below normal levels.
Inventory increased by 33.1% compared to the same week in 2023 (up 31.8% last week) and decreased by 36.8% compared to the same week in 2019 (down 35.9% last week).
As of June 2023, inventories were approximately 54% lower than in 2019, so the gap with more normal inventory levels is gradually closing.
