by Calculated Risk August 15, 2024 4:30 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 July, Realtor.com reported: Reported Inventory increased 36.6% year over year, but is still 30.6% down 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 August 10, 2024
• Available inventory increased, with the number of homes for sale up 35.5% from the previous year.
The number of homes for sale has increased year-over-year for the 40th consecutive week. Gaps from last year have generally been widening, and July inventory hit a post-pandemic high, but last week’s 35.5% increase was slightly slower than the week before.
• New listings — a measure of the number of sellers with homes on the market — fell 2.2% this week from a year ago.
Despite mortgage rates dropping to their lowest level in more than a year, sellers continued to show negative sentiment, with the number of annual listings for new homes declining for the second consecutive week.
Below is a graph of year-over-year inventory changes. Real Estate Agent.com.
Inventory has increased year-over-year for 40 consecutive weeks.
However, inventories remain at historically low levels.
New listing numbers remain below typical pre-pandemic levels.
