Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report: Weekly Housing Trends View—Data for Week Ending May 18, 2024
• Active inventory increased, with for-sale homes 35.5% above year-ago levels
For the 28th straight week, there were more homes listed for sale versus the prior year, giving homebuyers more options.
This past week, the inventory of homes for sale grew by 35.5% compared with last year, and it was the highest since July 2020 in the early days of the COVID-19 Pandemic. This growth in inventory is primarily driven by housing markets in the South, which saw a 43.0% year-over-year increase in inventory in April.
• New listings–a measure of sellers putting homes up for sale–were up this week, by 8.1% from one year ago.
Seller activity continued to climb annually last week and accelerated relative to the previous week’s growth. Newly listed homes grew by 8.1% compared with a year ago, an acceleration from the 6.6% growth rate in the previous week.
Here is a graph of the year-over-year change in inventory according to realtor.com.
Inventory was up year-over-year for the 28th consecutive week.