by Calculated Risk on 11/04/2024 08:11:00 AM

Altos reports that active single-family inventory was unchanged week-over-week.

The first graph shows the seasonal pattern for active single-family inventory since 2015.

Click on graph for larger image.

The red line is for 2024.  The black line is for 2019.  

Inventory was up 29.8% compared to the same week in 2023 (last week it was up 30.8%), and down 19.4% compared to the same week in 2019 (last week it was down 20.7%). 

Back in June 2023, inventory was down almost 54% compared to 2019, so the gap to more normal inventory levels is more than half closed.

This second inventory graph is courtesy of Altos Research.

As of Nov 1st, inventory was at 736 thousand (7-day average), compared to 736 thousand the prior week. 

Mike Simonsen discusses this data regularly on Youtube.