• Active inventory continued to grow, increasing 53% above one year ago. Inventory accelerated again, notching a seventh week in a row with yearly trend growth roughly at or above 2% higher than the previous week.
• New listings–a measure of sellers putting homes up for sale–were again down, dropping 17% from one year ago. This marks the twenty-first consecutive week of year-over-year declines in homeowners listing their home for sale.
Here is a graph of the year-over-year change in inventory according to realtor.com.
Note the rapid increase in the YoY change earlier this year, from down 30% at the beginning of the year, to up 29% YoY at the beginning of July.