by Calculated Risk on 10/11/2024 01:50:00 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 September, Realtor.com reported inventory was up 34.0% YoY, but still down 23.2% compared to the 2017 to 2019 same month levels. 

 Now - on a weekly basis - inventory is up 30.5% YoY.

Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report: Weekly Housing Trends View—Data for Week Ending Oct. 5, 2024

• Active inventory increased, with for-sale homes 30.5% above year-ago levels.

For the 48th consecutive week dating back to November 2023, the number of listings for sale has grown year-over-year. This week’s growth was lower than last week’s, the third week of slowing growth, and the lowest annual change since April. Much of the inventory build up is due to more seller activity than buyer activity, but this week’s boost in new listings made for a sizable week-over-week increase in homes for sale.

• New listings–a measure of sellers putting homes up for sale-increased 8.0% this week compared to one year ago.

The number of new listings has continued to increase, the annual increase picked up the pace this week. The pick up in fresh listings may be in response to recent improvements in mortgage rates, but it will likely take further improvement to move the needle in a more significant way.

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

Inventory was up year-over-year for the 48th consecutive week.  

However, inventory is still historically low.

New listings remain below typical pre-pandemic levels.