Now - on a weekly basis - inventory is up 33.3% 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 27, 2024
Inventory was up year-over-year for the 25th consecutive week.
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 27, 2024
• Active inventory increased, with for-sale homes 33.3% above year-ago levels.Here is a graph of the year-over-year change in inventory according to realtor.com.
For the 25th straight week, there were more homes listed for sale versus the prior year, giving homebuyers more options. As mortgage rates have climbed to new 2024 highs, we could see sellers adjust their plans, since nearly three-quarters of potential sellers also plan to buy a home.
• New listings–a measure of sellers putting homes up for sale–were up this week, by 10.4% from one year ago.
Since February, the number of homes newly listed for sale has surpassed year ago pace by double-digit with the exception of a few weeks around this year’s spring holidays. As reported in the Realtor.com April housing report, newly listed homes trailed behind every prior year except for the pandemic-induced starting point of 2020 and the record low of 2023.
Inventory was up year-over-year for the 25th consecutive week.
However, inventory is still historically very low.
New listings remain below typical pre-pandemic levels although increasing.
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