Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report released today from Economist Jiayi Xu: Weekly Housing Trends View — Data Week Ending Dec 17, 2022. Note: They have data on list prices, new listings and more, but this focus is on inventory.
• Active inventory growth held steady with for-sale homes up 58% above one year ago. Inventory growth continues to climb higher this week after its first pause in early December.
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• New listings–a measure of sellers putting homes up for sale–were again down, this week by 17% from one year ago
Here is a graph of the year-over-year change in inventory according to realtor.com.
Note the rapid increase in the YoY change earlier this year, from down 30% at the beginning of the year, to up 29% YoY at the beginning of July.
Then the Realtor.com data was stuck at up around 26% to 30% YoY for 14 weeks in a row. This was due to the slowdown in new listings, even as sales had fallen sharply.
Then the YoY change started increasing sharply again (inventory is falling seasonally week-to-week now, but the comparison is YoY).