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Sunday, December 10, 2023 Reports Active Inventory UP 3.1% YoY; New Listings up 5.6% YoY

by Calculated Risk on 12/10/2023 04:00:00 PM has monthly and weekly data on the existing home market. Here is their weekly report: Weekly Housing Trends View — Data Week Ending December 2, 2023

Active inventory increased slightly, with for-sale homes 3.1% above year ago levels. Active listings exceeded last year’s levels again this week, with the rate of increase picking up steam from the previous week (+3.1% year-over-year vs +1.8%). However, on an absolute basis, active inventory continued to fall below its peak earlier in the month, as is seasonally typical.

New listings–a measure of sellers putting homes up for sale–were up this week, by 5.6% from one year ago. New listings registered lower than prior year levels from mid-2022 through roughly 6 weeks ago, as the mortgage rate lock-in effect froze homeowners with low-rate existing mortgages in place. More recently the trend has reversed as new listings during the week outpaced the same week in the previous year by 5.6%.
Realtor YoY Active ListingsHere is a graph of the year-over-year change in inventory according to

Inventory was up year-over-year for the 4th 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 well below "typical pre-pandemic levels", new listings are now up YoY.