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by Calculated Risk on 1/09/2023 08:32:00 AM
Altos reports inventory is down 4.0% week-over-week.
Click on graph for larger image.
This inventory graph is courtesy of Altos Research.
As of January 6th, inventory was at 471 thousand (7-day average), compared to 491 thousand the prior week. Inventory has declined sharply seasonally in the winter.
The second graph shows the seasonal pattern for active single-family inventory since 2015.
The red Dot is for the first week of 2023. The black line is for 2019.
Inventory was up 61.4% compared to the same week in 2022, and down 42.3% compared to the first week in 2019.
A key will when inventory starts increasing in 2023 (the bottom is usually in February of each year).
Mike Simonsen discusses this data regularly on Youtube.
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