by calculated risk 10/07/2024 08:11:00 AM
Altos reported that active inventory of single-family homes increased by 0.4% from the previous week. Inventories are now up 48.6% from their seasonal low in February.
The first chart shows the seasonal pattern of active single-family inventory since 2015.
Click on the graph to see a larger image.
The red line is 2024 and the black line is 2019.
Inventory increased by 36.7% compared to the same week in 2023 (up 36.7% last week) and decreased by 23.1% compared to the same week in 2019 (down 23.4% last week).
As of June 2023, inventories were approximately 54% lower than in 2019, so the gap with more normal inventory levels is closing.
This second inventory chart is courtesy of: Altos Research.
As of October 4th, inventory was 734,000 units (7-day average), compared to 731,000 units the previous week.
This is the highest level of inventory since May 2020.
