by Calculated Risk on 8/31/2023 12:32:00 PM

Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report from Hannah Jones: Weekly Housing Trends View — Data Week Ending Aug 26, 2023

• Active inventory declined, with for-sale homes lagging behind year ago levels by 5.9%. This past week marked the 10th consecutive decline in the number of homes actively for sale compared to the prior year, however the gap narrowed for the fourth week in a row.

• New listings–a measure of sellers putting homes up for sale–were down again this week, by 8.8% from one year ago. For 60 weeks, there have been fewer newly listed homes compared to the same time one year ago. This gap has been shrinking, but reversed trend this week. This week’s data shows a 3.1 percentage point widening compared to last week.

Here is a graph of the year-over-year change in inventory according to realtor.com. 

Inventory was down 7.2% year-over-year - this was the tenth consecutive week with a YoY decrease following 58 consecutive weeks with a YoY increase in inventory.  

Inventory is still up from the record lows in the 2nd half of 2021 and early 2022, and it is unlikely we will see new record lows by this measure this year.