Housing Feb 3rd Weekly Update: Inventory Down 0.3% Week-over-week, Up 27.7% Year-over-year
Altos reports that active single-family inventory was down 0.3% week-over-week.Inventory always declines seasonally in the Winter and usually bottoms in late January or February. Inventory is now up 1.7% from the bottom three weeks ago. If three weeks ago was the seasonal bottom, that would be very early in the year, but that has happened before. The first graph shows the seasonal pattern for active single-family inventory since 2015. Click on graph for larger image.The red line is for 2024. The black line is for 2019. Inventory was up 27.7% compared to the same week in 2024 (last week it was up 26.5%), and down 22.2% compared to the same week in 2019 (last week it was down 23.0%). Back in June 2023, inventory was down almost 54% compared to 2019, so the gap to more normal inventory levels has closed significantly! This second inventory graph is courtesy of Altos Research. As of Jan 31st, inventory was at 635 thousand (7-day average), compared to 637 thousand the prior week. Mike Simonsen discusses this data regularly on Youtube
Altos reports that active single-family inventory was down 0.3% week-over-week.
Inventory always declines seasonally in the Winter and usually bottoms in late January or February. Inventory is now up 1.7% from the bottom three weeks ago. If three weeks ago was the seasonal bottom, that would be very early in the year, but that has happened before.
The first graph shows the seasonal pattern for active single-family inventory since 2015.
Click on graph for larger image.The red line is for 2024. The black line is for 2019.
Inventory was up 27.7% compared to the same week in 2024 (last week it was up 26.5%), and down 22.2% compared to the same week in 2019 (last week it was down 23.0%).
Back in June 2023, inventory was down almost 54% compared to 2019, so the gap to more normal inventory levels has closed significantly!
This second inventory graph is courtesy of Altos Research.
As of Jan 31st, inventory was at 635 thousand (7-day average), compared to 637 thousand the prior week.
Mike Simonsen discusses this data regularly on Youtube
