by Calculated Risk on 7/21/2022 03:37:00 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 July 16, 2022. Note: They have data on list prices, new listings and more, but this focus is on inventory.
• Active inventory continued to grow, rising 29% above one year ago. With fewer owners listing homes for sale this week and last, the rapid recent run-up in active inventory has stalled somewhat. Inventory was roughly even with last year’s levels at the beginning of May and the gains mounted each week until early July. Since then, the market has stabilized just shy of a 30% increase over year ago levels. This is a welcome improvement for shoppers, but the market still lags what was once normal.
Here is a graph of the year-over-year change in inventory according to realtor.com.
Note the rapid increase in the YoY change, from down 30% at the beginning of the year, to up 29% YoY now.
However, the Realtor.com data has been stuck at up 29% YoY for 3 weeks in a row. This might be noise, or it might suggest a slowdown in inventory increases.
Image and article originally from www.calculatedriskblog.com. Read the original article here.