Realtor.com Reports Weekly Active Inventory Up 28% Year-over-year; New Listings Down 10%

Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report released yesterday from Chief Economist Danielle Hale and Jiayi Xu: Weekly Housing Trends View — Data Week Ending Sep 17, 2022. Note: They have data on list prices, new listings and more, but this focus is on inventory.

• Active inventory continued to grow, and improved 28% above one year ago. . The number of homes for sale has grown as buyers and sellers navigate a rebalancing housing market with shifting advantages and challenges.
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• New listings–a measure of sellers putting homes up for sale–were again down, dropping 10% from one year ago.. This week marks the eleventh straight week of year over year declines in the number of new listings coming up for sale, and this week the data continues to maintain at double-digit territory.

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 26% to 30% YoY for 12 weeks in a row.  This is due to the slowdown in new listings, even as sales have fallen sharply.