by Calculated Risk on 11/24/2023 12:31:00 PM

Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report: Weekly Housing Trends View — Data Week Ending Nov 18, 2023

• Active inventory increased slightly, with for-sale homes 1.5% above year ago levels. Active listings exceeded last year’s levels again this week, falling in line with last week’s trend.

• New listings–a measure of sellers putting homes up for sale–were up this week, by 5.0% from one year ago. New listings registered lower than prior year levels from mid-2022 through roughly 4 weeks ago, as the mortgage rate lock-in effect freezes homeowners with low-rate existing mortgages in place. Over the last three weeks, however, the trend has reversed and new listings during this week outpaced the same week in the previous year by 5.0%.

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

Inventory was up year-over-year for the 2nd consecutive week following 20 consecutive weeks with a YoY decrease in inventory.  

Inventory is still historically very low.

New listings really collapsed a year ago, so the YoY comparison for new listings is easier now - and although new listings also remain historically very low, new listings are now up YoY.