by calculated risk October 11, 2024 01:50:00 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 5, 2024
• Available inventory increased and homes sold increased 30.5% year over year.
For 48 consecutive weeks since November 2023, the number of properties sold has increased year-over-year. This week’s growth rate was lower than last week, marking the third week of slowing growth and the lowest annual rate of change since April. Although much of the increase in inventory is due to seller activity rather than buyer activity, this week’s increase in new listings resulted in a significant increase in homes for sale week over week.
• The number of new listings, a measure of sellers putting their homes on the market, rose 8.0% this week compared to a year ago.
The number of new listings continues to rise, with the annual pace of increase accelerating this week. The increase in new listings may be a response to recent improvements in mortgage rates, but further improvements may be needed to make a bigger difference.
This is a graph showing year-on-year changes in inventory. realtor.com.
Inventories increased year-on-year for 48 consecutive weeks.
However, inventories remain at historically low levels.
The number of new listings remains below typical pre-pandemic levels.
