Year-Over-Year Housing Inventory is 17.1% Below Last Year’s Level

According to the latest report released by Zillow, the American online real estate database company, year-over-year housing inventory is now -17.1% below last year’s levels and there were -3.8% fewer new listings from the week before. While new listings are up 13.9% monthly, they are down annually, year-over-year -16.6%. Newly pending sales grew 2.8% week-over-week and were 17.7% higher than in May. Also, of note, the median list price for a home as of June 13 is $332,680—up 2.5% year-over-year and 0.8% from the prior week.