by Calculated Risk on 6/06/2024 11:41:00 AM

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 April, Realtor.com reported inventory was up 35.2% YoY, but still down almost 34% compared to April 2017 to 2019 levels. 

 Now - on a weekly basis - inventory is up 35.5% YoY.

Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report: Weekly Housing Trends View—Data for Week Ending June 1, 2024

• Active inventory increased, with for-sale homes 35.5% above year-ago levels

For the 30th straight week, there were more homes listed for sale versus the prior year, giving homebuyers more options. This past week, the inventory of homes for sale grew by 35.5% compared with last year. This growth in inventory is primarily driven by housing markets in the South, which saw a 47.2% year-over-year increase in inventory in May.

• New listings—a measure of sellers putting homes up for sale—were up this week, by 2.1% from one year ago

Seller activity continued to climb annually last week but decelerated relative to the previous week’s growth. Newly listed homes grew by 2.1% compared with a year ago, a slowdown from the 3.6% growth rate in the previous week.

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

Inventory was up year-over-year for the 30th consecutive week.  

However, inventory is still historically low.

New listings remain below typical pre-pandemic levels although up year-over-year.