by Calculated Risk on 4/14/2025 08:21:00 AM
Altos reports that active single-family inventory was up 2.3% week-over-week.
Inventory is now up 12.5% from the seasonal bottom in January and is increasing.
Usually, inventory is up about 5% or 6% from the seasonal low by this week in the year. So, 2025 is seeing a larger than normal pickup 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 33.4% compared to the same week in 2024 (last week it was up 34.7%), and down 17.5% compared to the same week in 2019 (last week it was down 17.4%).
Inventory will pass 2020 levels soon, and it now appears inventory will be close to 2019 levels towards the end of 2025.
This second inventory graph is courtesy of Altos Research.
As of April 11th, inventory was at 702 thousand (7-day average), compared to 691 thousand the prior week.
