by Calculated Risk on 5/11/2023 04:15:00 PM
Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report from chief economist Danielle Hale: Weekly Housing Trends View — Data Week Ending May 6, 2023
• Active inventory was up at a slower pace, with for-sale homes up just 31% above one year ago. The number of homes for sale continues to grow, but compared to one year ago, the pace is slowing.
• New listings–a measure of sellers putting homes up for sale–were down again this week, by 16% from one year ago. The number of newly listed homes has been lower than the same time the previous year for the past 44 weeks.
Here is a graph of the year-over-year change in inventory according to realtor.com.
Inventory is still up year-over-year – from record lows – however, the YoY increase has slowed sharply recently.
This was the smallest YoY increase since October.
The recent trend suggests active inventory could be down YoY in Q3!