Realtor.com Reports Median listing price was flat year over year

What this means: On a weekly basis, Realtor.com reports the year-over-year change in active inventory, new listings and median prices. On a monthly basis, they report total inventory. For October, Realtor.com reported active inventory was up 15.3% YoY, but still down 13.2% compared to the 2017 to 2019 same month levels. 

Here is their weekly report: Weekly Housing Trends: Latest Data as of Oct. 25

• AActive inventory climbed 14.6% year over year

The number of homes active on the market climbed 14.6% year-over-year, marking the 103th consecutive week of annual gains in inventory. There were about 1.1 million homes for sale last week, marking the 26th week in a row over the million-listing threshold. Active inventory is growing significantly faster than new listings, an indication that more homes are sitting on the market for longer, and homeowners aren’t eager to sell.

• New listings—a measure of sellers putting homes up for sale—up 5.9% year over year

New listings were up 5.9% last week compared with the same period a year ago, extending the streak of accelerating growth to three weeks.

• The median listing price was flat year over year

The median list price remained flat compared to the same week one year ago. Adjusting for home size, the price per square foot fell 0.8% year over year, dropping for the eighth consecutive week. The price per square foot grew steadily for almost two years, but the weak sales activity has finally caught up and shaken underlying home values despite stable prices.