by Calculated Risk on 11/20/2023 08:21:00 AM

Altos reports that active single-family inventory was up 0.5% week-over-week and is now up slightly year-over-year.  This is the latest in the year that inventory was still increasing in this series!  Inventory will start decreasing seasonally soon (for Thanksgiving and Christmas).
Click on graph for larger image.

This inventory graph is courtesy of Altos Research.

As of November 17th, inventory was at 570 thousand (7-day average), compared to 567 thousand the prior week.   
Year-to-date, inventory is up 16.1%.  And inventory is up 40.3% from the seasonal bottom 31 weeks ago.
The second graph shows the seasonal pattern for active single-family inventory since 2015.

The red line is for 2023.  The black line is for 2019.  Note that inventory is up from the record low for the same week in 2021, but below last year and still well below normal levels.
Inventory was

Keep reading this article on Bill McBride - Calculedriskblog.

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