by calculated risk October 28, 2024 08:11:00 AM
Altos reported that active inventory of single-family homes decreased by 0.2% from the previous week. Inventories are now up 49.4% 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 31.2% compared to the same week in 2023 (up 33.4% last week) and decreased by 20.2% compared to the same week in 2019 (down 21.0% 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 25th, inventory was 738,000 units (7-day average), compared to 739,000 units the previous week.
