by Calculated Risk on 10/05/2023 12:30:00 PM

Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report from Hannah Jones: Weekly Housing Trends View — Data Week Ending Sep 30, 2023

• Active inventory declined, with for-sale homes lagging behind year ago levels by 2.6%.

During the past week, we observed the 15th successive weekly drop in the number of homes available for sale relative to the previous year. However, this decline showed another improvement compared to the previous week’s -3.7% figure.

• New listings–a measure of sellers putting homes up for sale–were down by just 1.2% from one year ago.

Over the past 65 weeks, we’ve consistently seen a decline in the number of newly listed homes compared to the same period one year ago. However, the difference narrowed to the smallest gap in the 65 week stretch.

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

Inventory was down 1.2% year-over-year - this was the fifteenth consecutive week with a YoY decrease following 58 consecutive weeks with a YoY increase in inventory.  

The YoY declines in inventory have been getting smaller recently but will likely stay down YoY for the remainder of 2023 since inventory was increasing late into the year last year.

New listings really collapsed a year ago, so the YoY comparison is easier now - and new listings are still historically very low.