by Calculated Risk on 8/19/2022 02:20:00 PM
Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report released yesterday from Chief Economist Danielle Hale: Weekly Housing Trends View — Data Week Ending Aug 13, 2022. Note: They have data on list prices, new listings and more, but this focus is on inventory.
• Active inventory continued to grow, but the pace slipped to 27% above one year ago. The rate of improvement actually slipped again this week as the number of new listings continues to come in lower
• New listings–a measure of sellers putting homes up for sale–were again down 15% from one year ago. This week marks a sixth straight week of year over year declines in the number of new listings coming up for sale, suggesting that homeowners are less eager to list homes for sale compared to last year even though today’s median listing price is more than 13% higher.
Here is a graph of the year-over-year change in inventory according to realtor.com.
Note the rapid increase in the YoY change earlier this year, from down 30% at the beginning of the year, to up 29% YoY at the beginning of July.
However, the Realtor.com data has been stuck at up around 27% YoY for 7 weeks in a row. This suggests a slowdown in inventory increases.
Image and article originally from www.calculatedriskblog.com. Read the original article here.