Realtor.com reports that weekly active inventory is up 49% year-on-year; New listings down 5% YoY

To Estimated risk per 20.04.2023 13:32:00

realtor.com has monthly and weekly data on the existing domestic market. Here is their weekly report, released today by Chief Economist Daniel Hale: Housing Trends Weekly Review – Week ending April 15, 2023

Strong inventory growth continued to pick up, with homes for sale up 49% year-over-year.. The number of homeowners rescheduling their homes for sale over the spring holidays contributed to a strong increase in inventories this week. Despite the big spike, the number of homes for sale continues to fall short of pre-pandemic levels, leaving many cards in the hands of very high net worth sellers.

New listings – a measure of sellers listing homes for sale – are down again this week, but only down 5% from last year.. The number of newly listed homes has been lower than at the same time in the previous year for the past 41 weeks, and while that trend has continued this week, the scale has changed significantly. Religious holiday shifts that fell earlier in 2023 are likely responsible for the big drop last week and the much smaller drop this week. On a two-week average, the decline in new listings is roughly in line with what we’ve seen so far this year..

Active realtor listings on an annualized basisHere is a chart of stock changes on an annualized basis. realtor.ru.

Inventories are still rising year-over-year – from a record low – but the year-on-year growth has slowed recently, although it increased 44% year-on-year last week.