by calculated risk October 14, 2024 08:17:00 AM
Altos reported that active inventory of single-family homes decreased by 0.3% from the previous week. Inventories are now up 48.3% 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.
Stocks increased by 34.0% compared to the same week in 2023 (up 36.7% last week) and decreased by 22/6% compared to the same week in 2019 (down 23.1% 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 11th, inventory was 732,000 units (7-day average), compared to 734,000 units the previous week.
