Realtor.com reports that weekly active inventory is up 59% year-on-year; New listings down 20% year on year

To Estimated risk per 03/24/2023 8:33:00 AM

realtor.com has monthly and weekly data on the existing domestic market. Here is their weekly report, posted yesterday by Sabrina Spaianu: Weekly Housing Trends Review – Data for the week ending March 18, 2023

• Strong inventory growth continued to pick up, with homes for sale up 59% year-over-year.. Inventories for sale rose, but slightly slower than last week, as new sellers in the market held back growth. Due to the lack of newly listed homes compared to the same period last year, the increase in the number of homes for sale is due to a longer time on the market. However, it is important to note that at this time last year, market time was close to all-time lows.
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• New listings – a measure of sellers listing homes for sale – are down again this week, down 20% from last year.. Fewer homeowners listed their homes for sale in 37 weeks than at the same time a year earlier. The gap this week was wider than last week, and the lack of new sellers continues to hamper existing home sales, which are down 22.8% from February last year, according to the National Association of Realtors.

Here is a chart of stock changes on an annualized basis. realtor.ru.

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