Realtor.com Reports Weekly Active Inventory Up 39% YoY; New Listings Down 21% YoY

Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report released today from chief economist Danielle Hale: Weekly Housing Trends View — Data Week Ending Apr 22, 2023• Active inventory was up at a slower pace, with for-sale homes up just 39% above one year ago. The number of homes for sale continues to climb, but hesitant seller participation is limiting the pace of growth. As a result, a greater share of current for-sale inventory is new construction.
…
• New listings–a measure of sellers putting homes up for sale–were down again this week, by 21% from one year ago. The number of newly listed homes has been lower than the same time the previous year for the past 42 weeks.Here 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 October.

The recent trend suggests active inventory could be down YoY in Q3!