Altos reports that active single-family inventory was up 1.3% week-over-week. Inventory is now up 37.1% from the February seasonal bottom.
This inventory graph is courtesy of Altos Research.
As of July 26th, inventory was at 677 thousand (7-day average), compared to 668 thousand the prior week.
This is the highest level of inventory since June 2020; however, inventory is still far below pre-pandemic levels.
The red line is for 2024. The black line is for 2019.
Inventory was up 39.4% compared to the same week in 2023 (last week it was up 39.1%), and down 29.4% compared to the same week in 2019 (last week it was down 30.3%).
Back in June 2023, inventory was down almost 54% compared to 2019, so the gap to more normal inventory levels is slowly closing.
Mike Simonsen discusses this data regularly on Youtube.
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