by Calculated Risk July 11, 2024 4:56 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 June, Realtor.com reported: report Inventory increased 36.7% year-over-year but is still down 32.4% 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 July 6, 2024
• Available inventory increased, with the number of homes for sale up 34.5% from the previous year.
For the 35th consecutive week, the number of homes for sale has increased compared to a year ago. Last week, inventory of homes for sale increased 34.5% compared to last year, but growth rate slowed slightly from the week before. Despite having about eight months’ worth of building inventory, buyers are seeing more than 30% fewer homes for sale than before the pandemic.
• The number of new listings (a measure of homes for sale) was down 4.9% from a year ago due to Independence Day.
After 13 consecutive weeks of increases in new listings, new listings are down year over year; however, the decline is largely due to how the Fourth of July fell this year compared to last. Even without the holiday impact, the annual growth rate of new listings has slowed over the past few months. New listings were up 6.3% year over year in June, but this growth rate is only half of what it was two months earlier.
Below is a graph of year-over-year inventory changes. Real Estate Agent.com.
Inventory has increased year-over-year for the 35th consecutive week.
However, inventories remain at historically low levels.
New listing numbers remain below typical pre-pandemic levels.
