Realtor.com reports that weekly active inventory is up 61% year on year; New listings down 16% YoY

To Estimated risk per 16.03.2023 14:59:00

realtor.com has monthly and weekly data on the existing domestic market. Here is their weekly report, released today by Chief Economist Daniel Hale: Weekly Housing Trends Review – Week ending March 11, 2023

• Strong inventory growth continued to pick up, with homes for sale up 61% year-over-year.. Stocks of homes for sale rose, repeating last week’s rise, which was the lowest since December. Instead of new sellers driving this growth, longer time on the market increases the number of homes for sale. It should be noted that active listings at this time last year were at or close to long-term lows.
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• New listings – a measure of sellers listing homes for sale – are down again this week, down 18% from last year.. In 36 weeks, fewer homeowners put their homes up for sale than a year ago. The gap this week was smaller than last week, but the lack of new sellers is still holding back home sales.

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

Inventories are still rising sharply compared to last year; however, year-on-year growth has slowed recently.