Active inventory increased for the 3rd consecutive week, increasing 0.8% last week, and hitting a new peak for the year. Here are the same week inventory changes for the last four years (usually inventory is declining at this time of year):
This inventory graph is courtesy of Altos Research.
1. The seasonal bottom (happened on March 4th for Altos) ✅
2. Inventory up year-over-year (happened on May 13th for Altos) ✅
3. Inventory up compared to two years ago (currently down 0.3% according to Altos)
4. Inventory up compared to 2019 (currently down 41.3%).