Realtor.com Reports Weekly Active Inventory Up 53% Year-over-year; New Listings Down 17%

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 Nov 26, 2022. Note: They have data on list prices, new listings and more, but this focus is on inventory. • Active inventory continued to grow, increasing 53% above one year ago. Inventory accelerated again, notching a seventh week in a row with yearly trend growth roughly at or above 2% higher than the previous week.
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• New listings–a measure of sellers putting homes up for sale–were again down, dropping 17% from one year ago. This marks the twenty-first consecutive week of year-over-year declines in homeowners listing their home for sale.Here is a graph of the year-over-year change in inventory according to realtor.com. 

Note the rapid increase in the YoY change earlier this year, from down 30% at the beginning of the year, to up 29% YoY at the beginning of July.