Realtor.com reports that weekly active inventory is up 58% year-on-year; New listings down 17% YoY
to Estimated risk per 22.12.2022 16:43:00
realtor.com has monthly and weekly data on the existing domestic market. Here is their weekly report released today by economist Chiayi Xu: Weekly Housing Trends Review – Week ending December 17, 2022. Note. They have data on list prices, new listings, and more, but the focus is on inventory.
• Strong inventory growth remained stable, with homes for sale up 58% year-over-year.. This week, inventory growth continues to rise after the first pause in early December.
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• New listings – a measure of sellers listing homes for sale – are down again this week, down 17% from last year.
Here is a chart of stock changes on an annualized basis. realtor.com.
Notice the rapid year-on-year growth at the beginning of this year, from a 30% decline at the beginning of the year to a 29% year-on-year increase in early July.
The Realtor.com data then stuck at 26% to 30% year on year for 14 straight weeks. This was due to a slowdown in new listings despite sales plummeting.
Then the year-on-year change started to increase sharply again (stocks are now falling seasonally from week to week, but the comparison is year-on-year).