Inventory down 0.8% Week-over-week; Down 10% from 2019 Levels

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by Calculated Risk on 8/11/2025 08:11:00 AM

Altos reports that active single-family inventory was down 0.8% week-over-week.

Inventory is now up 37.6% from the seasonal bottom in January. Usually, inventory is up about 21% from the seasonal low by this week in the year. So, 2025 was a larger than normal increase in inventory.

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 2025. The black line is for 2019.

Inventory was up 24.0% compared to the same week in 2024 (last week it was up 26.6%), and down 10.1% compared to the same week in 2019 (last week it was down 10.0%).

Inventory started 2025 down 22% compared to 2019. Inventory has closed more than half of that gap, and it appears inventory will be close to 2019 levels at the end of 2025.