by calculated risk October 21, 2024 08:11:00 AM
According to Altos’ report, available inventory for single-family homes increased by 1.0% from the previous week. Inventories are now up 49.7% 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 33.4% compared to the same week in 2023 (up 34.0% last week) and decreased by 21.0% compared to the same week in 2019 (down 22.6% 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 18th, inventory was 739,000 units (7-day average), compared to 732,000 units the previous week.
