reports that weekly active inventory is up 57% year-on-year; New listings down 20% year on year

To Estimated risk per 30.03.2023 12:26:00 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 March 25, 2023

Strong inventory growth continued to pick up, with homes for sale up 57% year-over-year.. Inventories of homes for sale rose, but at a slightly slower pace than the previous week, for the second time, as fewer hopeful home buyers continue to outnumber new sellers on the market. The rise in the number of homes for sale is primarily driven by longer stays on the market and needs to be seen in context. The number of homes listed for sale in March is more than the last two years, but is still about half of what was typical for this time of year in 2017-2019.

New listings – a measure of sellers listing homes for sale – are down again this week, down 20% from last year.. For 38 weeks, the number of new homes listed lagged behind the previous year. The gap has been steady this week, but at a fairly low level. In fact, March data shows that the number of new listings hitting the market was near the lows of April 2020, when a large number of activities were curtailed in the early days of the pandemic.

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

Inventories are still up sharply from last year – from a record low – but year-on-year growth has slowed recently.