by calculated risk May 20, 2024 08:11:00 AM
Altos reports active single-family home inventory increased 1.7% week over week. Inventories have increased by 17.0% since the February lows. We have exceeded last year’s inventory limit!
Click on the graph to see a larger image.
This inventory graph is Altos Research.
As of May 17th, inventory was 578,000 units (7-day average), compared to 568,000 units the previous week.
Inventories remain well below pre-pandemic levels.
The second chart shows the seasonal pattern of active single-family inventory since 2015.
The red line is 2024. The black line is 2019. Note that while inventories are up 84% from the same week’s all-time low in 2021, they are still well below normal levels.
Inventory increased by 36.0% compared to the same week in 2023 (up 35.0% last week) and decreased by 36.4% compared to the same week in 2019 (down 36.6% last week).
As of June 2023, inventories were approximately 54% lower than in 2019, so the gap with normal inventory levels is gradually closing.
