by Calculated Risk on 12/19/2024 04:45:00 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 November, Realtor.com reported inventory was up 26.2% YoY, but still down 21.5% compared to the 2017 to 2019 same month levels. 

 Now - on a weekly basis - inventory is up 23.4% 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 Dec. 14, 2024

• Active inventory increased, with for-sale homes 23.4% above year-ago levels

For the 58th consecutive week, the number of homes for sale has increased compared with the same time last year. However, this week’s growth was the slowest since March 2024. As the mortgage rates remain close to 7%, the combination of sluggish listing activity and muted buyer demand has led to a slowdown in inventory growth. This increase should help lead to a more balanced housing market heading into 2025.

• New listings—a measure of sellers putting homes up for sale—increased 7.9%

The past two weeks have brought the highest combined two-week increase in new listings since April, reflecting a rising desire of existing home sellers to sell their home and, in many cases, also buy a new one. This late-season increase could lead to a noticeable but modest increase in housing market activity throughout the remainder of the year.

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

Inventory was up year-over-year for the 58th consecutive week.  

New listings remain below typical pre-pandemic levels.