by Calculated Risk on 8/02/2024 02:33:00 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 June, Realtor.com reported inventory was up 36.6% YoY, but still down 30.6% compared to April 2017 to 2019 levels. 

 Now - on a weekly basis - inventory is up 37.1% 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 July 27, 2024

• Active inventory increased, with for-sale homes 37.1% above year-ago levels.

For the 38th week in a row, the number of for-sale homes grew compared with one year ago. This past week, the inventory of homes for sale grew by 37.1% compared with last year, slightly higher than the rate observed in the previous week.

• New listings–a measure of sellers putting homes up for sale–were up this week by 6.4% from one year ago.

This week’s decrease in new listings bucked the recent trend of new listing growth, which had posted a positive year-over-year figure in 15 of the last 17 weeks. On a monthly basis, June saw new listings grow at a 6.3% annual rate, so this week’s data appears to signal a slowdown in housing inventory being added to the market.

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

Inventory was up year-over-year for the 38th consecutive week.  

However, inventory is still historically low.

New listings remain below typical pre-pandemic levels.