by Calculated Risk on 9/28/2023 01:00:00 PM

Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report from Jiayi Xu: Weekly Housing Trends View — Data Week Ending Sep 23, 2023

• Active inventory declined, with for-sale homes lagging behind year ago levels by 3.7%. During the past week, we observed the 14th successive drop in the number of homes available for sale when compared to the previous year. This decline showed a slight improvement compared to the previous week’s -4.4% figure.

• New listings–a measure of sellers putting homes up for sale–were down again this week, by 7.5% from one year ago. Over the past 64 weeks, we’ve consistently seen a decline in the number of newly listed homes compared to the same period one year ago. While this gap in new listings was gradually narrowed over the past few weeks, in the most recent week, the decrease in newly listed homes was -7.5% compared to the previous year, lower from the -6.0% decline in the week prior.

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

Inventory was down 3.7% year-over-year - this was the fourteenth consecutive week with a YoY decrease following 58 consecutive weeks with a YoY increase in inventory.  

The YoY declines in inventory have been getting smaller recently but will likely stay down YoY for the remainder of 2023 since inventory was increasing late into the year last year.