by Risk calculated on 05/22/2023 08:30:00
Altos reports that active single-family inventory rose 0.9% week-over-week.
Click on the graphic to enlarge the image.
This inventory chart is courtesy of Search Violas.
As of May 19, inventory was 424,000 (7-day average), compared to 420,000 the previous week.
Year-to-date, inventories are down 13.6%. And inventories are up 4.6% from the seasonal low of five weeks ago.
The second chart shows the seasonal trend of active single-family inventory since 2015.
The red line is 2023. The black line is 2019. Note that stocks are up from the previous two years (the record low was in 2022), but still well below normal levels.
Inventory was up 25.4% from the same week in 2022 (last week was up 34.4%) and down 53.3% from the same week in 2019 ( last week, down 53.1%).
It seems likely that inventories will be down year-over-year in June or July.