By Mike Simonsen | HousingWire
As 2023 draws to a close soon, housing inventory has been rising very late in the year. Last year at this time, sellers and homebuyers hit the brakes hard.
This year is slow, of course, but not dropping, so we finally have a fractionally better home-sales growth rate over the same week a year ago.
Watch the weekly housing market recap video above to get the latest housing market data download from Altos Research.
Don’t have time to watch the full video? Here are some key housing market data takeaways:
Inventory peaks for the year
There are 567,000 single-family homes on the market, which is unchanged from last week. Remember the Altos rule: If rates go up, inventory will build in 2024. If rates fall, inventory will drop again as demand heats up.
Meanwhile, there are 66,000 new, single-family listings this week, with 11,000 of those already under contract. This means inventory has (finally) peaked for the year.
