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Realtor.com Reports Weekly Active Inventory Up 10% YoY; New Listings Down 22% YoY

Posted on 18/06/2023 by

by Calculated Risk on 6/15/2023 02:16:00 PM

Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report from economist Jiayi Xu: Weekly Housing Trends View — Data Week Ending June 10th, 2023

• Active inventory growth slowed again, with for-sale homes rising just 10% above one year ago. The number of homes for sale continues to grow, but compared to one year ago, the pace is slowing. While today’s shoppers still have many more homes to consider than last year’s shoppers did, worries about high inflation, rising interest rates, and escalating home prices have caused many prospective buyers, especially more first-time buyers, to postpone their plans to purchase a home . This, in turn, has contributed to an increase in the number of homes listed for sale. However, the ongoing decrease in new listings has restricted the growth of active inventory, and there is a possibility of further deceleration in the upcoming weeks.
…
• New listings–a measure of sellers putting homes up for sale–were down again this week, by 22% from one year ago. The number of newly listed homes has been lower than the same time the previous year for the past 49 weeks. As the year-over-year declines fluctuated in the -20% to -26% range, there are no clear signs of sellers re-entering the market at a steady pace. The large decline in new listings is primarily driven by the mortgage “locked-in” as many existing homeowners benefit from mortgage rates that are significantly lower than the current level.

Realtors YoY Active ListingsHere is a graph of the year-over-year change in inventory according to realtor.com.

Inventory is still up year-over-year – from record lows – however, the YoY increase has slowed sharply recently.

This was the smallest YoY increase since May 2022.

The recent trend suggests active inventory could be down YoY in late June or early July!

Category: Realtor
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alternative ways to sell your house buy my house home realtor home sellers house buying companies house realtor houses how do you search by mls number? how to sell your home online how to sell your house by owner how to sell your own house my realtor national association of realtors realtor realtor.com find a home realtor.com florida realtor.com mi realtor.com official site realtor.com rentals realtor.com texas realtor definition realtor homes for sale realtor logo realtor md realtor nc realtor near me realtor net realtor on realtor one realtor pa realtor pronunciation realtors realtor websites sell home by owner sell home for cash sell home online sell home quick selling a house sell my home sell my own home steps to selling a house by owner the realtor the realtors what does a realtor do yahoo real estate listings

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