by calculated risk March 10, 2024 08:21:00 AM
What this means: Each week, Realtor.com reports year-over-year changes in active inventory and new listings. They report total inventory on a monthly basis. For February, visit Realtor.com report Inventory increased 14.8% year over year, but was still down almost 40% compared to February 2019.
realtor.com contains monthly and weekly data on the existing housing market. Here is their weekly report. Weekly Housing Trends View — Data Weeks ending March 2, 2024
• Available inventory increased and homes sold increased 19.9% year over year. The number of active listings was above year-ago levels for 17 consecutive weeks. This means that today's home buyers are seeing more homes for sale. In fact, Realtor.com's February Housing Trends Report shows that 2024 is at its highest inventory level since 2020, bucking the typical monthly trend of the past four years and showing that inventory is at its highest level since January. It was shown to be relatively stable. Despite this, the number of homes on the market is still down nearly 40% compared to the typical 2017-2019 period.
• The number of new listings, a measure of sellers putting their homes on the market, rose 17.4% this week compared to a year ago. The number of newly listed homes exceeded the same period last year for 19 consecutive weeks.
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Inventories decreased year-on-year for 20 consecutive weeks, but increased year-on-year for 17 consecutive weeks.
Stocks are still very low by historical standards.
Although the number of new listings remains well below „typical pre-pandemic levels,“ the number of new listings has now increased year over year for 19 consecutive weeks.