by calculated risk September 30, 2024 08:11:00 AM
Altos reported that available inventory for single-family homes increased by 0.8% from the previous week. Inventories are currently up 48.0% from their seasonal low in February.
Click on the graph to see a larger image.
This inventory graph is Altos Research.
As of September 27, inventory was 731,000 units (7-day average), compared to 725,000 units the previous week.
This is the highest level of inventory since May 2020.
The second chart shows the seasonal pattern of active single-family inventory since 2015.
The red line is 2024 and the black line is 2019.
Inventory increased by 36.7% compared to the same week in 2023 (up 37.2% last week) and decreased by 23.4% compared to the same week in 2019 (down 24.0% last week).
As of June 2023, inventories were approximately 54% lower than in 2019, so the gap with more normal inventory levels is gradually closing.
