by Calculated Risk September 23, 2024 8:11 AM
Altos reports that active single-family home inventory increased 1.6% week over week. Inventory is now up 46.8% from the seasonal trough in February.
Click on the graph to enlarge the image.
This inventory graph is Altos Research.
As of September 20, inventory was at 725,000 units (7-day average), down from 714,000 units the previous week.
This is the highest inventory level since May 2020.
The second chart shows the seasonal pattern of active single-family home inventory since 2015.
The red line is 2024 and the black line is 2019.
Inventory increased 37.2% compared to the same week in 2023 (up 37.4% last week) and decreased 24.0% compared to the same week in 2019 (down 25.2% last week).
As of June 2023, inventory was down about 54% compared to 2019, so the gap with normal inventory levels is slowly closing.
