by Risk calculated on 03/13/2023 08:47:00
Altos reports that active single-family inventory was down 1.5% week-over-week. Stocks usually bottom out in early February, so this year’s low will be late.
Here are the inventory changes for the same week for the past five years:
2023: -6.2K
2022: +7.1K
2021: -7.5,000
2020: -3.7,000
2019: -0.4K
Click on the graphic to enlarge the image.
This inventory chart is courtesy of Search Violas.
As of March 10, inventory was 413,000 (7-day average), compared to 419,000 the previous week.
The second graph 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 66.8% from the same week in 2022 (last week was up 74.3%) and down 49.5% from the same week in 2019 ( last week, down 48.8%).
A key will be when inventories start to rise in 2023 – so far inventories are down around 16.0% in the first ten weeks of 2023.