by Calculated Risk on 8/11/2023 01:58:00 PM

Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report from Danielle Hale: Weekly Housing Trends View — Data Week Ending Aug 5, 2023

• Active inventory declined, with for-sale homes lagging behind year ago levels by 9%.. This week marks a 7th consecutive decline in the number of homes actively for sale compared to the prior year, and the gap is growing.

• New listings–a measure of sellers putting homes up for sale–were down again this week, by 14% from one year ago. For 57 weeks, there have been fewer newly listed homes compared to the same time one year ago. The gap is starting to shrink as we get into a comparison against low new listings in the second half of 2022. This week’s data shows a 2.5 percentage point improvement over last week as the market slowly trends in a buyer-friendly direction, reflecting a stabilization of the low new listings count.

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

Inventory was down 9.1% year-over-year - this was the seventh consecutive week with a YoY decrease following 58 consecutive weeks with a YoY increase in inventory.  

Inventory is still up from the record lows in the 2nd half of 2021 and early 2022, and it is unlikely we will see new record lows by this measure this year.