by Calculated Risk on 11/21/2024 05:25:00 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 September, Realtor.com reported inventory was up 29.2% YoY, but still down 21.1% compared to the 2017 to 2019 same month levels. 

 Now - on a weekly basis - inventory is up 25.9% 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 Nov. 16, 2024

• Active inventory increased, with for-sale homes 25.9% above year-ago levels

For the 54th consecutive week, the number of homes for sale has increased compared with the same time last year. However, this week’s growth was smaller than last week’s, marking the eighth consecutive week of deceleration and the smallest annual increase since late March.

• New listings—a measure of sellers putting homes up for sale—climbed 3.5% this week compared with one year ago

The number of newly listed homes saw a slight uptick compared with the same week last year, offering a glimmer of hope for buyers seeking fresh inventory. However, the recent climb in mortgage rates might deter many potential sellers from entering the market, particularly those locked into lower rates who are hesitant to trade up to higher borrowing costs.

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

Inventory was up year-over-year for the 54th consecutive week.  

However, inventory is still historically low.

New listings remain below typical pre-pandemic levels.