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Thursday, April 20, 2023 Reports Weekly Active Inventory Up 49% YoY; New Listings Down 5% YoY

by Calculated Risk on 4/20/2023 01:32:00 PM has monthly and weekly data on the existing home market. Here is their weekly report released today from chief economist Danielle Hale: Weekly Housing Trends View — Data Week Ending Apr 15, 2023

Active inventory growth continued to climb, with for-sale homes up 49% above one year ago. The number of homeowners shifting home listing timelines around spring holidays helped push active inventory growth up this week. Despite the big surge, the number of homes for-sale continues to trail pre-pandemic levels, keeping many cards in the hands of sellers sitting on very high levels of home equity.
New listings–a measure of sellers putting homes up for sale–were down again this week, but only by 5% from one year ago. The number of newly listed homes has been lower than the same time the previous year for the past 41 weeks and while this week continued that trend, the magnitude shifted in a big way. Shifts in religious holidays that fell earlier in 2023 are likely responsible for last week’s big drop and this week’s significantly smaller decline. On average across the two weeks, the decline in new listings is roughly on track with what we’ve seen so far this year.
Realtor YoY Active ListingsHere is a graph of the year-over-year change in inventory according to

Inventory is still up year-over-year - from record lows - however, the YoY increase has slowed recently, although this was a pickup from up 44% YoY last week.