by Calculated Risk on 11/14/2024 04:15:00 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 29.2% YoY, but still down 21.1% compared to the 2017 to 2019 same month levels. 

 Now - on a weekly basis - inventory is up 26.1% 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 Nov. 9, 2024

• Active inventory increased, with for-sale homes 26.1% above year-ago levels

For the 53rd consecutive week, the number of listings for sale has grown year over year. This week’s growth was lower than last week’s, the seventh week of slowing growth, and the lowest annual change since late March. Slowing listing activity and stifled buyer demand have resulted in slowing inventory growth.

• New listings—a measure of sellers putting homes up for sale—climbed 1.7% this week compared with one year ago

The number of new listings on the market picked up compared with the same week last year. The recent upward trajectory of mortgage rates could largely discourage sellers from listing their homes as roughly 84% of outstanding mortgages have a rate of 6% or lower.

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

Inventory was up year-over-year for the 53rd consecutive week.  

However, inventory is still historically low.

New listings remain below typical pre-pandemic levels.