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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 Mar 25, 2023• Active inventory growth continued to climb with for-sale homes up 57% above one year ago. Inventories of for-sale homes rose, but at a slightly slower pace than the previous week for a second time as the smaller number of hopeful homebuyers still outnumber new sellers on the market. Growth in the number of homes for sale is primarily being driven by longer time on market and needs to be put into context. The number of homes for-sale in March surpasses the two most recent years, but is still roughly only half of what was typical for this time of year in 2017 to 2019.
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• New listings–a measure of sellers putting homes up for sale–were again down, this week by 20% from one year ago. For 38 weeks, the number of newly listed homes has trailed the prior year. The gap was steady this week, but at a fairly low level. In fact, March data show that the number of new listings to hit the market was nearly on par with the low in April 2020 when a large number of activities were curtailed in the early days of the pandemic.Here is a graph of the year-over-year change in inventory according to realtor.com.
Inventory is still up sharply year-over-year – from record lows – however, the YoY increase has slowed recently.
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