Realtor.com Reports Weekly Active Inventory Up 70% YoY; New Listings Down 13% 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 Feb 11, 2023• Active inventory growth continued to climb with for-sale homes up 70% above one year ago. Inventories of for-sale homes rose again, on par with the yearly gains we saw last week. Still-low buyer interest amid high costs rather than an influx of sellers is driving this increase. Even after these huge gains, January data show that nationwide there are still more than 40% fewer homes for sale than were available pre-pandemic,
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• New listings–a measure of sellers putting homes up for sale–were again down, this week by 13% from one year ago. For 32 weeks now, fewer homeowners put their homes on the market for sale than at this time last year. After smaller declines in the first few weeks of the year, the gap has widened for a third week, indicating lower seller interest than we saw one year ago.Here is a graph of the year-over-year change in inventory according to realtor.com. 

In early 2022, inventory was declining rapidly, so the year-over-year change is up sharply.