by Calculated Risk on 8/15/2024 04:30:00 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 July, 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 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 August 10, 2024

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

For the 40th week in a row, the number of for-sale homes grew compared with one year ago. While the gap with last year has generally been increasing, helping propel inventory to a post-pandemic high in July, this past week the rise was 35.5%, slightly more modest than the rate observed in the prior week..

• New listings–a measure of sellers putting homes up for sale-dipped this week by 2.2% from one year ago.

Despite mortgage rates dropping to their lowest level in over a year, sellers continued to show negative sentiment, leading to a yearly decline in new listings for a second week in a row.

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

Inventory was up year-over-year for the 40th consecutive week.  

However, inventory is still historically low.

New listings remain below typical pre-pandemic levels.