by Calculated Risk September 12, 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 August, Realtor.com reported: Reported Inventory was up 5.8% year over year, but down 26.4% compared to the same month in 2017-2019.
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 September 7, 2024
• The inventory of homes for sale increased, up 33.4% from a year ago.
The number of homes for sale has increased year-over-year for 44 consecutive weeks dating back to November 2023, and this week continues the mid-30% growth rate that began in April. This is down slightly from last week’s 34.6% increase.
• New listings — a measure of the number of sellers with homes on the market — rose 9.9% this week compared with a year ago.
The recent easing of mortgage rates has encouraged many sellers to return to the market, resulting in the largest year-over-year increase in new listings in a single month. Moreover, this increase was nearly double the previous week’s 5.5% increase.
Below is a graph of year-over-year inventory changes. Real Estate Agent.com.
Inventory has increased year-over-year for 44 consecutive weeks.
However, inventories remain at historically low levels.
New listing numbers remain below typical pre-pandemic levels.
