by Calculated Risk June 13, 2024 5:55 PM
What this means: Realtor.com reports the year-over-year change in available inventory and new listings weekly. Monthly, it reports total inventory. For April, Realtor.com reported: report Inventory increased 35.2% year-over-year but is still down about 34% compared to April 2017 to April 2019 levels.
Real Estate Agent.com There are monthly and weekly data on the existing housing market. Below is the weekly report. Weekly Housing Trends View – Data for the week ending June 8, 2024
• The inventory of homes for sale increased 36.0% year over year, resulting in an increase in inventory.
For the 31st consecutive week, the number of homes for sale has increased year-over-year, giving homebuyers more options. Last week, inventory of homes for sale increased 36.0% compared to last year. This increase in inventory was primarily driven by the Southern housing market, where inventory increased 47.2% in May compared to last year.
• New listings (the number of homes being put up for sale by sellers) increased 8.0% this week compared to a year ago.
Seller activity continued to increase year-over-year last week, accelerating compared to the growth rate of the previous two weeks. Mortgage rates have been fluctuating around 7% recently, and potential sellers are closely monitoring these changes and adjusting their selling decisions accordingly.
Below is a graph of year-over-year inventory changes. Real Estate Agent.com.
Inventory has increased year-over-year for 31 consecutive weeks.
However, inventories remain at historically low levels.
While new listings are up year-over-year, they remain below typical pre-pandemic levels.
