by Calculated Risk July 5, 2024 1:55 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 29, 2024
• The inventory of homes for sale increased, up 38.1% from a year ago.
The number of homes for sale has increased for the 34th consecutive week compared to a year ago. Last week, the inventory of homes for sale increased 38.1% compared to last year, widening the gap compared to recent weeks and recording the largest annual increase since April 2023.
Despite nearly eight months of housing inventory, buyers are seeing more than 30% fewer homes for sale than they did before the pandemic. Limited supply is putting upward pressure on home prices, which, combined with still-high mortgage rates, is keeping many buyers on the sidelines.
• New listings – the number of homes sellers putting up for sale – rose 10.8% this week compared to a year ago.
Seller activity picked up steam this week. New listings were up year over year and more than any week since late April. Recent declines in mortgage rates may be encouraging more homeowners to put their homes on the market.
Below is a graph of year-over-year inventory changes. Real Estate Agent.com.
Inventory has increased year-over-year for 34 consecutive weeks.
However, inventories remain at historically low levels.
While new listings are up year-over-year, they remain below typical pre-pandemic levels.
