by calculated risk October 24, 2024 05:23:00 PM
What this means: Every week, Realtor.com reports year-over-year changes in active inventory and new listings. They report total inventory on a monthly basis. For September, visit Realtor.com reported Inventory increased 34.0% year over year, but was still down 23.2% compared to the same month levels from 2017 to 2019.
realtor.com contains monthly and weekly data on the existing housing market. Here is their weekly report. Weekly Housing Trends View – Data for the week ending October 19, 2024
• Available inventory increased, and the number of homes sold increased by 28.7% compared to the previous year.
For 50 consecutive weeks starting in November 2023, the number of properties sold has increased year-over-year. This week’s growth rate was lower than last week, marking the fifth week of slowing growth and the lowest annual rate of change since April. Much of the increase in inventory is due to more seller activity than buyer activity, but the number of active listings has stabilized over the past few weeks, indicating that buyer activity may be starting to catch up. It suggests something.
• The number of new listings, a measure of sellers putting their homes on the market, rose 4.7% this week compared to a year ago.
The number of new listings has rebounded from last week’s slump due to Hurricane Milton, and is back on the rise. However, recent changes in mortgage rates may deter sellers from listing their homes.
This is a graph showing year-on-year changes in inventory. realtor.com.
Inventories increased year-on-year for 50 consecutive weeks.
However, inventories remain at historically low levels.
The number of new listings remains below typical pre-pandemic levels.
