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Realtor.com Reports Weekly Inventory Up 25% Year-over-year

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by Calculated Risk on 6/30/2022 09:51:00 AM

Today, in the Calculated Risk Real Estate Newsletter: Realtor.com Reports Weekly Inventory Up 25% Year-over-year

Excerpt:

Realtor.com

has monthly and weekly data on the existing home market. Here is their weekly report released this morning from Chief Economist Danielle Hale:

Weekly Housing Trends View — Data Week Ending June 25, 2022.

. Note: They have data on list prices, new listings and more, but this focus is on inventory.
o Active inventory continued to grow, rising 25% above one year ago. With more homeowners deciding to sell just as higher mortgage rates and prices are taking a big bite out of homebuyer purchasing power, the number of homes actively available to shoppers has made a quick about-face. Inventory was roughly even with last year’s levels at the beginning of May and the gains have mounted each week with this most recent week seeing five homes on the market for every four that a buyer at this time last year would have seen. Still, our June Housing Trends Report showed that the active listings count remained less than half its June 2019 level and just shy of two-thirds its June 2020 mark. Put another way, today’s shoppers have more options, but the market needs even more before the selection is on par with the pre-pandemic or even early-pandemic housing market.

And here is a

monthly graph from Realtor.com released today

that shows their estimate of active inventory over the last six years. Note that inventory was declining rapidly for most of 2020, and it is very likely that inventory will be up compared to 2020 in Q3. (
June 2022 is for mid-June, and inventory has increased further over the last two weeks).
There is much more in the article. You can subscribe at https://calculatedrisk.substack.com/

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