Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report: Weekly Housing Trends View — Data Week Ending February 24, 2024
• Active inventory increased, with for-sale homes 17.8% above year ago levels. For a 16th straight week, active listings registered above prior year level, which means that today’s home shoppers see more for-sale homes. In fact, the January Realtor.com Housing Trends Report showed that 2024 had the most abundant level of inventory in the most recent four years. Nevertheless, the number of homes on the market is still down nearly 40% compared to what was typical in 2017 to 2019.
• New listings–a measure of sellers putting homes up for sale–were up this week, by 11.9% from one year ago. Newly listed homes bested year ago levels for an 18th week in a row. This may be even better news for home shoppers than the overall growth in active inventory because a jump in new listings means new options–vitally important for shoppers with a specific must-have list./blockquote>
Here is a graph of the year-over-year change in inventory according to realtor.com.
Inventory was up year-over-year for the 16th consecutive week following 20 consecutive weeks with a YoY decrease in inventory.
Inventory is still historically very low.Although new listings remain well below “typical pre-pandemic levels”, new listings are now up YoY for the 18th consecutive week.
