by Calculated Risk on 4/11/2024 02:11:00 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 March, Realtor.com reported inventory was up 23.5% YoY, but still down almost 38% compared to March 2017 to 2019 levels. 

 Now - on a weekly basis - inventory is up 30.4% YoY.

Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report: Weekly Housing Trends View—Data Week Ending April 6, 2024

• Active inventory increased, with for-sale homes 30.4% above year ago levels.

For an 22nd straight week, active listings registered above prior year level, which means that today’s home shoppers are able to consider more options for existing homes for sale. However, the number of homes on the market is still down 37.9% compared to what was typical in 2017 to 2019.

• New listings–a measure of sellers putting homes up for sale–were up this week, by 30.1% from one year ago.

Listing activities rebounded significantly after a dip during the Easter holiday, reaching the highest growth rate after April 2021.However, it’s crucial to acknowledge that some of this increase can be attributed to the reduced number of listings during this same week last year, likely due to the impact of the Easter holiday.

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

Inventory was up year-over-year for the 22nd consecutive week following 20 consecutive weeks with a YoY decrease in inventory.  

Inventory is still historically very low.

New listings remain below typical pre-pandemic levels although increasing. The YoY decline last week was related to the Easter holiday, and that was reversed this week.