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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 8, 2023• Active inventory growth continued to climb, but at a notably lower rate, with for-sale homes up 44% above one year ago. One of 2023’s biggest bright spots for buyers has dimmed again, with active inventories registering just 44% above 2022’s record lows for the first part of the year. With homeowners increasingly likely to sit on the sidelines instead of selling, homebuyers still outnumber new sellers in a market with a smaller number of both buyers and sellers.
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• New listings–a measure of sellers putting homes up for sale–were again down, this week by 32% from one year ago. The number of newly listed homes has been lower than the same time the previous year for the past 40 weeks. This past week, the gap from last year increased more significantly, perhaps due in part to shifts in religious holidays that fell earlier in 2023. If this is the case, we will likely see some improvement in the next week. 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 recently.
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