by Calculated Risk on 3/24/2023 08:33:00 AM

Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report released yesterday from Sabrina Speianu: Weekly Housing Trends View — Data Week Ending Mar 18, 2023

• Active inventory growth continued to climb with for-sale homes up 59% above one year ago. Inventories of for-sale homes rose, but at a slightly slower pace than last week’s gain, as new sellers on the market held back more. With a lack of newly listed homes compared to the same time last year, growth in the number of homes for sale is driven by longer time on market. However, it is important to note that this time last year, time on market was near all-time lows.
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• New listings–a measure of sellers putting homes up for sale–were again down, this week by 20% from one year ago. For 37 weeks, fewer homeowners put their homes on the market for sale than at the same time a year prior. This week’s gap was larger than last week’s, and the lack of new sellers continues to be a drag on existing home sales, which declined by 22.8% compared to February of last year, according to the National Association of Realtors..

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

Inventory is still up sharply year-over-year - from record lows - however, the YoY increase has slowed recently.