by calculated risk October 31, 2024 04:41:00 PM
What this means: Each 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 26, 2024
• Available inventory increased, and the number of homes sold increased by 27.6% compared to the previous year.
For 51 consecutive weeks since November 2023, the number of properties for sale has increased year-over-year. This week’s growth rate was lower than the previous week, marking the fifth consecutive week of slowing growth and the lowest annual rate of change since April. Much of the increase in inventory is due to seller activity rather than buyer activity. However, if mortgage rates continue to rise in the short term, activity from both sellers and buyers could decline.
• The number of new listings, a measure of sellers putting their homes on the market, rose 0.7% this week compared to a year ago.
The number of new listings on the market decreased compared to the same week last year. The recent upward trend in mortgage rates can significantly discourage sellers from listing their homes…
This is a graph showing year-on-year changes in inventory. realtor.com.
Inventories increased year-on-year for 51 consecutive weeks.
However, inventories remain at historically low levels.
The number of new listings remains below typical pre-pandemic levels.
