• Active inventory was up at a slower pace, with for-sale homes up just 23% above one year ago. The number of homes for sale continues to grow, but at a slower pace compared to one year ago.
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• New listings–a measure of sellers putting homes up for sale–were down again this week, by 25% from one year ago. The number of newly listed homes has been lower than the same time the previous year for the past 45 weeks.
Here is a graph of the year-over-year change in inventory according to realtor.com. Inventory is still up year-over-year - from record lows - however, the YoY increase has slowed sharply recently.
This was the smallest YoY increase since June 2022.
The recent trend suggests active inventory could be down YoY in June or July!