Inventory up over 30% compared to the same week last year

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Altos reports that active single-family inventory was up 1.6% week-over-week. Inventory is now up 15.2% from the February bottom, and almost above the maximum for inventory last year!

Click on graph for larger image.This inventory graph is courtesy of Altos Research.

As of May 10th, inventory was at 568 thousand (7-day average), compared to 560 thousand the prior week.

Inventory is still far below pre-pandemic levels.

See also New housing inventory hits highest since 2008, but demand is for existing homes. Buyers lack funds to qualify. Homeowners skip meals to pay mortgages!

See also Builders are dealing with the most unsold inventory since the Great Finance Crisis. 2008 all over again.

https://www.calculatedriskblog.com/2024/05/housing-may-13th-weekly-update.html?m=1