by Calculated Threat on 3/16/2023 02:59:00 PM
Realtor.com has month-to-month and weekly information on the prevailing residence market. Right here is their weekly report launched at present from Chief economist Danielle Hale: Weekly Housing Tendencies View — Knowledge Week Ending Mar 11, 2023
• Lively stock progress continued to climb with for-sale houses up 61% above one yr in the past. Inventories of for-sale houses rose, tying final week’s achieve, which was the bottom we’ve seen since December. As an alternative of latest sellers driving these will increase, longer time on market is pushing the variety of houses on the market larger. Of notice, energetic listings at the moment final yr have been at or close to long-term lows.
• New listings–a measure of sellers placing houses up on the market–have been once more down, this week by 18% from one yr in the past. For 36 weeks, fewer owners put their houses in the marketplace on the market than at the moment one yr in the past. This week’s hole was smaller than final week’s, however the lack of latest sellers remains to be a drag on residence gross sales.
Here’s a graph of the year-over-year change in stock in accordance with realtor.com.
Stock remains to be up sharply year-over-year; nevertheless, the YoY improve has slowed just lately.