by Calculated Risk August 12, 2024 8:12 AM
Altos reports that active single-family home inventory increased 1.3% week over week. Inventory is now up 40.2% from the seasonal trough in February.
Click on the graph to enlarge the image.
This inventory graph is Altos Research.
As of August 9, inventory was at 693,000 units (7-day average), down from 684,000 units the previous week.
This is the highest inventory level since June 2020.However, inventories remain well below pre-pandemic levels.
The second chart shows the seasonal pattern of active single-family home inventory since 2015.
The red line is 2024 and the black line is 2019.
Inventory was up 40.5% compared to the same week in 2023 (up 39.9% last week) and down 27.5% compared to the same week in 2019 (down 28.9% last week).
As of June 2023, inventory was down about 54% compared to 2019, so the gap with normal inventory levels is slowly closing.
