by Calculated Risk on 1/13/2025 08:11:00 AM
Monday, January 13, 2025
Housing Jan 13th Weekly Update: Inventory down 1.7% Week-over-week, Up 23.6% Year-over-year
Altos reports that active single-family inventory was down 1.7% week-over-week.
Inventory will continue to decline seasonally and probably bottom in late January or February.
The first graph shows the seasonal pattern for active single-family inventory since 2015.
The red line is for 2024. The black line is for 2019.
Inventory was up 23.6% compared to the same week in 2024 (last week it was up 27.3%), and down 23.3% compared to the same week in 2019 (last week it was down 22.2%).
Back in June 2023, inventory was down almost 54% compared to 2019, so the gap to more normal inventory levels has closed significantly!
As of Jan 10th, inventory was at 624 thousand (7-day average), compared to 635 thousand the prior week.
Mike Simonsen discusses this data regularly on Youtube.