by Calculated Risk on 7/14/2025 08:11:00 AM
Altos reports that active single-family inventory was down 0.7% week-over-week.
Inventory is now up 35.6% from the seasonal bottom in January and will likely be mostly flat over the summer.
Usually, inventory is up about 20% from the seasonal low by this week in the year. So, 2025 is seeing a larger than normal increase in inventory.
The first graph shows the seasonal pattern for active single-family inventory since 2015.
The red line is for 2025. The black line is for 2019.
Inventory was up 30.0% compared to the same week in 2024 (last week it was up 30.8%), and down 11.0% compared to the same week in 2019 (last week it was down 10.0%).
It now appears inventory will be close to 2019 levels towards the end of 2025.
As of July 11th, inventory was at 847 thousand (7-day average), compared to 853 thousand the prior week.
