by Calculated Risk June 20, 2024 12:45 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 15, 2024
• Available inventory increased, with the number of homes for sale increasing 36.0% from the previous year.
For the 32nd consecutive week, the number of homes for sale is higher than last year, giving homebuyers more options. Last week, the inventory of homes for sale increased 36.0% compared to last year, maintaining the same growth rate as the previous week.
• New listings, a measure of whether sellers are putting their homes on the market, rose 8.0% this week from a year ago.
Seller activity continued to rise year-over-year last week, matching last week’s 8% year-over-year growth. Sellers have been particularly sensitive to mortgage rates in recent months, and newly listed homes are one of the first indicators to react to small fluctuations in mortgage rates in recent months. A continuation of the encouraging inflation numbers seen in May could lead to softening rates and increased seller interest heading into the second half of the year. Meanwhile, newly listed homes remain about 22% below pre-pandemic (2017-2019) levels.
Below is a graph of year-over-year inventory changes. Real Estate Agent.com.
Inventory has increased year-over-year for 32 consecutive weeks.
However, inventories remain at historically low levels.
While new listings are up year-over-year, they remain below typical pre-pandemic levels.
