Altos reports that active single-family inventory was down 1.7% week-over-week and is now up 1.9% year-over-year. Inventory will decrease seasonally for next few weeks (for the Holidays).
Click on graph for larger image.
This inventory graph is courtesy of Altos Research.
As of December 8th, inventory was at 546 thousand (7-day average), compared to 556 thousand the prior week.
Year-to-date, inventory is up 11.3%.
The second graph shows the seasonal pattern for active single-family inventory since 2015.
The red line is for 2023. The black line is for 2019. Note that inventory is up from the record low for the same week in 2021, but below last year and still well below normal levels.
Inventory was up 1.9% compared to the same week in 2022 (last week it was up 1.0%), and down 34.1% compared to the same week in 2019 (last week down 34.9%).
Inventory is now solidly above the same week in 2020 levels (dark blue line).
Mike Simonsen discusses this data regularly on Youtube.