by Risk calculated on 05/11/2023 16:15:00
real estate agent.com has monthly and weekly data on the resale market. Here is their weekly report from Chief Economist Danielle Hale: Weekly View of Housing Trends — Data week ending May 6, 2023
• Active inventory grew at a slower pace, with homes for sale only up 31% from a year ago. The number of homes for sale continues to grow, but compared to a year ago, the pace is slowing.
• New listings – a measure of sellers putting homes up for sale – fell again this week, down 16% from a year ago. The number of newly listed homes has been lower than the same period a year earlier for the past 44 weeks.
Here is a graph of the change in stocks from one year to the next according to real estate agent.com.
Inventory is still up year-over-year — from record highs — however, the year-over-year increase has slowed sharply recently.
This is the lowest year-on-year increase since October.
The recent trend suggests that active inventory may be down year-over-year in Q3!