{"id":4305,"date":"2023-07-02T23:04:04","date_gmt":"2023-07-02T23:04:04","guid":{"rendered":"https:\/\/frankbuysphilly.com\/housing-market-tracker-inventory-is-negative-yoy\/"},"modified":"2023-07-02T23:04:04","modified_gmt":"2023-07-02T23:04:04","slug":"housing-market-tracker-inventory-is-negative-yoy","status":"publish","type":"post","link":"https:\/\/frankbuysphilly.com\/housing-market-tracker-inventory-is-negative-yoy\/","title":{"rendered":"Housing Market Tracker: Inventory is negative YOY"},"content":{"rendered":"
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Housing inventory<\/a> finally broke under 2022 levels last week. To give you an idea how different this year is from last year, last week in 2022, active listings grew 30,940<\/strong> while this year they only grew 5,848.<\/strong> Mortgage rates<\/a> rose last week after the better-than-anticipated jobless claims data but even with higher rates, we also had a third week of positive purchase application data.<\/p>\n Here\u2019s a quick rundown of last week:<\/strong><\/p>\n On May 15, I went on CNBC<\/a> and talked about how inventory growth in 2023 resembled a zombie from the show The Walking Dead, slowly trying to rise from the grave. Since May 15, that trend has continued to the point that inventory in America is now negative year over year. <\/p>\n We have often discussed that the housing market <\/a>dynamics changed starting Nov. 9, 2022, and today you can see the final result of that dynamic shift as inventory is now negative versus the 2022 data \u2014 all before July 4th. I recently recapped this crazy period on the HousingWire Daily podcast,<\/a> going into detail about what happened in housing over the last year. <\/p>\n\n
Weekly housing inventory<\/strong><\/h2>\n