by Calculated Risk on 5/02/2024 12:54:00 PM

What this means: On a weekly basis, Realtor.com reports the year-over-year change in active inventory and new listings. On a monthly basis, they report total inventory. For April, Realtor.com reported inventory was up 30.4% YoY, but still down almost 36% compared to April 2017 to 2019 levels. 

 Now - on a weekly basis - inventory is up 33.3% YoY.

Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report: Weekly Housing Trends View—Data Week Ending April 27, 2024

• Active inventory increased, with for-sale homes 33.3% above year-ago levels.

For the 25th straight week, there were more homes listed for sale versus the prior year, giving homebuyers more options. As mortgage rates have climbed to new 2024 highs, we could see sellers adjust their plans, since nearly three-quarters of potential sellers also plan to buy a home.

• New listings–a measure of sellers putting homes up for sale–were up this week, by 10.4% from one year ago.

Since February, the number of homes newly listed for sale has surpassed year ago pace by double-digit with the exception of a few weeks around this year’s spring holidays. As reported in the Realtor.com April housing report, newly listed homes trailed behind every prior year except for the pandemic-induced starting point of 2020 and the record low of 2023.

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

Inventory was up year-over-year for the 25th consecutive week.  

However, inventory is still historically very low.

New listings remain below typical pre-pandemic levels although increasing.