by Calculated Risk on 11/24/2025 08:11:00 AM
Altos reports that active single-family inventory was down 1.1% week-over-week. Inventory usually starts to decline in the fall and then declines sharply during the holiday season.
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 15.5% compared to the same week in 2024 (last week it was up 16.3%), and down 4.7% compared to the same week in 2019 (last week it was down 5.3%).
Inventory started 2025 down 22% compared to 2019. Inventory has closed most of that gap, but it appears inventory will still be below 2019 levels at the end of 2025.
This second inventory graph is courtesy of Altos Research.
As of November 21st, inventory was at 830 thousand (7-day average), compared to 840 thousand the prior week.
