by Risk calculated on 02/03/2023 15:09:00
real estate agent.com has monthly and weekly data on the existing market. Here is their weekly report released today by Chief Economist Danielle Hale: Weekly View of Housing Trends — Data week ending February 25, 2023
• Growth in active inventory continued to climb with homes for sale up 67% from a year ago. Inventories of homes for sale rose again, but climbed at the same pace as last week, which was a slightly slower annual pace than seen in late January and early February. As new listings continue to decline, the growing number of homes for sale reflects continued low buyer interest amid high costs rather than an influx of sellers.
• New listings – a measure of sellers putting homes up for sale – are down again this week by 16% from a year ago. For 34 weeks, fewer owners have put their homes up for sale than at the same time last year. The spread has hovered in double-digit territory this year, but is slightly lower than what we saw in the last quarter of 2022.
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 sharply year over year; however, the increase has slowed recently.