reports that weekly active inventory is up 67% year on year; New listings down 16% YoY

To Estimated risk per 03/02/2023 15:09:00 has monthly and weekly data on the existing domestic market. Here is their weekly report, released today by Chief Economist Daniel Hale: Weekly Housing Trends Update – Week ending February 25, 2023

Strong inventory growth continued to pick up, with homes for sale up 67% year-over-year.. Inventories of homes for sale rose again, but grew in line with last week’s pace, which was a slightly slower annual pace than we saw in late January and early February. The number of new homes for sale continues to decline, and the increase in the number of homes for sale reflects still low buyer interest amid high costs, rather than an influx of sellers.

New listings – a measure of sellers listing homes for sale – are down again this week, down 16% from last year.. For the past 34 weeks, fewer homeowners have listed their homes for sale than at the same time last year. The gap has hovered in the double digits this year, but it’s slightly smaller than what we saw in the last quarter of 2022.

Active realtor listings on an annualized basisHere is a chart of stock changes on an annualized basis.

Inventories are still rising sharply compared to last year; however, growth has slowed recently.

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