• Active inventory continued to grow, rising 17% above one year ago. Inventory was roughly even with last year’s levels at the beginning of May and the gains have mounted each week. Still, our May Housing Trends Report showed that the active listings count remained nearly 50 percent below its level at the beginning of the pandemic. In other words, we’re starting to add more options, but the market needs even more before home shoppers have a selection that’s roughly equivalent to the pre-pandemic housing market.
Here is a graph of the year-over-year change in inventory according to realtor.com.
Note the rapid increase in the YoY change, from down 30% at the beginning of the year, to up 17% YoY now. It will be important to watch if that trend continues.