by Calculated Risk on 6/26/2025 03:29:00 PM
What this means: On a weekly basis, Realtor.com reports the year-over-year change in active inventory and new listings. On a monthly basis, they report total inventory. For May, Realtor.com reported inventory was up 31.5% YoY, but still down 14.4% compared to the 2017 to 2019 same month levels.
Here is their weekly report: Weekly Housing Trends: Latest Data as of June 21
• Active inventory climbed 27.5% year over year
The number of homes actively for sale remains on a strong upward trajectory, now 27.5% higher than this time last year. This represents the 85th consecutive week of annual gains in inventory. There were more than 1 million homes for sale again last week, marking the eighth week in a row over the threshold and the highest inventory level since December 2019.
• New listings—a measure of sellers putting homes up for sale—rose 3.5% year over year
New listings rose again last week on an annual basis, up 3.5% compared with the same period last year. … This will be an important trend to watch, especially as regional real estate dynamics diverge and the market gradually shifts back in favor of buyers.
• The median list price was up 0.9% year over year
The median list price climbed again this week, but it’s still down 0.3% year to date. The median list price per square foot—which adjusts for changes in home size—rose 0.7% year over year. With inventory growing and 1 in 5 sellers slashing prices, the pendulum is swinging back toward a balanced market, as price growth slows and buyers gain more leverage.
With inventory climbing, and sales depressed, months-of-supply is at the highest level since 2016 (excluding the start of pandemic) putting downward pressure on house prices in an increasing number of areas.
