https://ift.tt/zG0Ar4E
Tracking existing home inventory is very important in 2022.
Inventory usually declines in the winter, and then increases in the spring. Inventory bottomed seasonally at the beginning of March 2022 and is now up 21.2% since then.
Click on graph for larger image in graph gallery.
This inventory graph is courtesy of Altos Research.
Last year inventory bottomed seasonally in April 2021 – very late in the year. This year, by this measure, inventory bottomed seasonally at the beginning of March.
Inventory is still very low. Compared to the same week in 2021, inventory is down 4.9% from 307 thousand, but compared to the same week in 2020, and inventory is down 60.4% from 738 thousand.
1. The seasonal bottom (already happened on March 4th for Altos)✅
2. Inventory up year-over-year (likely very soon)
3. Inventory up compared to two years ago (currently down 60% according to Altos)
4. Inventory back to 1999 levels (currently down 67%).
For the second milestone, here is a table of the year-over-year change by week since the beginning of the year.
| Week Ending | YoY Change |
|---|---|
| 12/31/2021 | -30.0% |
| 1/7/2022 | -26.0% |
| 1/14/2022 | -28.6% |
| 1/21/2022 | -27.1% |
| 1/28/2022 | -25.9% |
| 2/4/2022 | -27.9% |
| 2/11/2022 | -27.5% |
| 2/18/2022 | -25.8% |
| 2/25/2022 | -24.9% |
| 3/4/2022 | -24.2% |
| 3/11/2022 | -21.7% |
| 3/18/2022 | -21.7% |
| 3/25/2022 | -19.0% |
| 4/1/2022 | -17.6% |
| 4/8/2022 | -14.8% |
| 4/15/2022 | -13.1% |
| 4/22/2022 | -11.2% |
| 4/22/2022 | -4.9% |
Financial Services
