Based on numbers from September and the first week of October, housing inventory has increased on a year-over-year basis
Oct. 14, 2024
Image: Konstantin L / stock.adobe.com
Housing inventory has increased in the past year.
Data show housing inventory appears to be improving. According to the CalculatedRisk blog, total inventory in September increased by 34% compared with the previous year, and for the week ending Oct. 5, inventory was up by 30.5% year-over-year. However, when looking at housing inventory over a longer period of time, inventory is still 23.2% below levels recorded in 2017 to 2019.
For the 48th consecutive week dating back to November 2023, the number of listings for sale has grown year-over-year. This week’s growth was lower than last week’s, the third week of slowing growth, and the lowest annual change since April. Much of the inventory build up is due to more seller activity than buyer activity, but this week’s boost in new listings made for a sizable week-over-week increase in homes for sale.
