Houston’s tight inventory shows signs of relief

by Alsha Khan

Week 23 of 2021 (ending June 14) showed consistent trends from the previous couple of weeks, according to the Houston Association of Realtors (HAR) weekly activity snapshot. 

New home listings and pending listings saw a drop back in May, but new listings appear to be slowly bouncing back. 

It was the second consecutive week that new listings continued to rise, helping alleviate some of the pressure on dwindling inventory. Realtors entered 3,465 properties in the Multiple Listing Service (MLS), up 4.2% compared to the same period last year. New listings will need to continue on this trajectory to reload the city’s supply. 

Pending listings are still down for the third straight week, with a total of 2,640 property listings that went under contract compared to 3,383 last year, a decrease of 22%. 

Off-market listings were down 26.9% compared to the same period in 2020, with sellers withdrawing a total of 968 homes compared to 1,324 last year. 

The number of closings continued to trend positively for the 16th consecutive week as housing demand stayed strong. There were a total of 2,293 home closings during week 23 this year, compared to 1,878 last year, showing a 22.1% increase. 

The number of showings and HAR.com listing views were also down compared to last year, with 5.4% fewer showings and 18.1% fewer HAR.com listing views compared to the same week last year.  


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